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I'm measuring with respect to the default. When I say "useful" I mean "more useful than the default". Investing in stocks and bonds is the default (very few ric
by xenocyon 7y ago
I'm measuring with respect to the default. When I say "useful" I mean "more useful than the default". Investing in stocks and bonds is the default (very few rich people save cash notes in a coffee can, so that's not worth talking about). Market investments don't help with the climate crisis (in fact their effect on climate are generally negative), human rights, etc, whereas our investments in 350.org and the ACLU do. Additionally, these orgs also have the ability to utilize the market as a means of growing money, although if they focus on this excessively that can be a distraction from their core mission. But we're getting into higher-order discussions here...