Thanks for this! I oversee the Macroeconomic Stabilization grant portfolio at Open Phil. We very much appreciate the thoughtful critique, and the reactions here. We don’t do detailed reactions by default, but wanted to flag that we’d seen and appreciate you sharing.
The risks you describe here are certainly worth considering, and we’ve tried to consider them whenever we make grants in this area. Historically, we didn’t think they outweighed the benefits of more expansionary macro policy. But we’ve been reevaluating this issue area in light of the current macroeconomic conditions and policy landscape—we might have more to say on that in the coming months.
Thanks for this! I oversee the Macroeconomic Stabilization grant portfolio at Open Phil. We very much appreciate the thoughtful critique, and the reactions here. We don’t do detailed reactions by default, but wanted to flag that we’d seen and appreciate you sharing.
The risks you describe here are certainly worth considering, and we’ve tried to consider them whenever we make grants in this area. Historically, we didn’t think they outweighed the benefits of more expansionary macro policy. But we’ve been reevaluating this issue area in light of the current macroeconomic conditions and policy landscape—we might have more to say on that in the coming months.
Hi Peter, thank you too for your brief and clear response on the stated concerns and others’ thoughtful comments.
Looking forward to reading any follow-up review you get to write on this subject later this year.