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This is: Money: The Unit of Caring, published by Eliezer Yudkowsky on the LessWrong.
Steve Omohundro has suggested a folk theorem to the effect that, within the interior of any approximately rational, self-modifying agent, the marginal benefit of investing additional resources in anything ought to be about equal. Or, to put it a bit more exactly, shifting a unit of resource between any two tasks should produce no increase in expected utility, relative to the agent's utility function and its probabilistic expectations about its own algorithms.
This resource balance principle implies that—over a very wide range of approximately rational systems, including even the interior of a self-modifying mind—there will exist some common currency of expected utilons, by which everything worth doing can be measured.
In our society, this common currency of expected utilons is called "money". It is the measure of how much society cares about something.
This is a brutal yet obvious point, which many are motivated to deny.
With this audience, I hope, I can simply state it and move on. It's not as if you thought "society" was intelligent, benevolent, and sane up until this point, right?
I say this to make a certain point held in common across many good causes. Any charitable institution you've ever had a kind word for, certainly wishes you would appreciate this point, whether or not they've ever said anything out loud. For I have listened to others in the nonprofit world, and I know that I am not speaking only for myself here...
Many people, when they see something that they think is worth doing, would like to volunteer a few hours of spare time, or maybe mail in a five-year-old laptop and some canned goods, or walk in a march somewhere, but at any rate, not spend money.
Believe me, I understand the feeling. Every time I spend money I feel like I'm losing hit points. That's the problem with having a unified quantity describing your net worth: Seeing that number go down is not a pleasant feeling, even though it has to fluctuate in the ordinary course of your existence. There ought to be a fun-theoretic principle against it.
But, well...
There is this very, very old puzzle/observation in economics about the lawyer who spends an hour volunteering at the soup kitchen, instead of working an extra hour and donating the money to hire someone to work for five hours at the soup kitchen.
There's this thing called "Ricardo's Law of Comparative Advantage". There's this idea called "professional specialization". There's this notion of "economies of scale". There's this concept of "gains from trade". The whole reason why we have money is to realize the tremendous gains possible from each of us doing what we do best.
This is what grownups do. This is what you do when you want something to actually get done. You use money to employ full-time specialists.
Yes, people are sometimes limited in their ability to trade time for money (underemployed), so that it is better for them if they can directly donate that which they would usually trade for money. If the soup kitchen needed a lawyer, and the lawyer donated a large contiguous high-priority block of lawyering, then that sort of volunteering makes sense—that's the same specialized capability the lawyer ordinarily trades for money. But "volunteering" just one hour of legal work, constantly delayed, spread across three weeks in casual minutes between other jobs? This is not the way something gets done when anyone actually cares about it, or to state it near-equivalently, when money is involved.
To the extent that individuals fail to grasp this principle on a gut level, they may think that the use of money is somehow optional in the pursuit of things that merely seem morally desirable—as opposed to tasks like feeding ourselves, whose desirability seems to be treated ...
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