Hi, welcome to the EA Forum. Itâs nice to see philosophical ideas that donât come from the dominant tradition here.
Your argument rests on the premise that everyone (human) has liangzhi but large models donât.
Iâm skeptical of that, because the innate sense of right/âwrong can be culture dependent, and there are people with neurological and psychological conditions that donât have that same experience.
How does that fit into your worldview?
I donât see how this could work.
Investing in an index benefits from prices being good proxies for expected returns, because bringing information to the market is rewarded.
In a liquid market, buying pushes prices up, and selling pushes them down, so if something is mispriced it can be arbitraged away for a profit.
In charity, this is not happening. If research shows that charity A is 10x effective charity B (even with error bars), people donât switch until the prices (aka impact per unit funding) equalize, so the price signal that is useful for index investing is not there.