That post just makes the claim that “all we really need are positive interest rates”. My own point which you were referring to in the original comment is that, at least in the context of poverty alleviation (/increasing human consumption more generally), what we need is pure time preference incorporated into interest rates. This condition is neither necessary nor sufficient for positive interest rates.
Hanson’s post then says something which sounds kind of like my point, namely that we can infer that it’s better for us as philanthropists to invest than to spend if we see our beneficiaries doing some of both. But I could never figure out what he was saying exactly, or how it was compatible with the point he was trying to make that all we really need are positive interest rates.
It seems you’re right. I did a little searching and found Hanson making that argument here: https://www.overcomingbias.com/2013/04/more-now-means-less-later.html
That post just makes the claim that “all we really need are positive interest rates”. My own point which you were referring to in the original comment is that, at least in the context of poverty alleviation (/increasing human consumption more generally), what we need is pure time preference incorporated into interest rates. This condition is neither necessary nor sufficient for positive interest rates.
Hanson’s post then says something which sounds kind of like my point, namely that we can infer that it’s better for us as philanthropists to invest than to spend if we see our beneficiaries doing some of both. But I could never figure out what he was saying exactly, or how it was compatible with the point he was trying to make that all we really need are positive interest rates.
Could you elaborate?