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Results from Discover Your Inner Economist India
As a result of Discover Your Inner Economist India, I have sent or am sending off the money to the following:
1. A Diwwali party for poor children
2. Debt relief for a maid who must repay a moneylender
3. Support for a micro-credit cooperative
4. School vouchers for Indian children
5. Educational expenses for a child
6. Support for an Indian entrepreneur seeking to make his first movie
I expected to see, at some point, an explosion of obviously fraudulent or trivial requests, but I never did. I have two hypotheses: a) good people know other good people, and b) any bad person who came across the link would want to maximize his own chances of receiving the money and thus would not send it along to other bad people.
I was amazed how many of the proposals came from either Bangalore or Singapore. Chennai was another common location.
I thank those of you who pledged additional support; I am sure the recipients appreciate it very much.
Addendum: A'la Seth Roberts, I also view the project as self-experimentation. It made giving money away more rewarding and that encouraged me to give more than I had originally planned. I expect to return to my list of emails for future transfers.
We should all think about how to make giving away money more rewarding for ourselves. More fun. If we are restricted to virtuousness as a motivation, I fear for the future of charity.
Posted by Tyler Cowen on August 19, 2007 at 03:32 PM in Economics | Permalink
Comments
Singapore?
Posted by: Nick Tarleton at Aug 19, 2007 6:02:53 PM
Can easily see why this is more fun. Seeing that the money made it's way to a person who has relayed some of his/her troubles to you, makes it more personal. Am assuming you will be staying in touch with the above recipients? Which will in turn, leads you to see the fulfillment of your contribution.
Regardless, I have a question? Do you recommend this type of decentralized charitable effort?
Posted by: lokidd at Aug 19, 2007 6:33:09 PM
Singapore - Hear there is a large south indian(chennai & bangalore are in south india) community present there.
Posted by: lokidd at Aug 19, 2007 6:35:55 PM
Yes I do recommend this type of decentralized charitable effort.
Posted by: Tyler Cowen at Aug 19, 2007 7:15:20 PM
All this is fine, but when are your publishers going to release the book in India? I'm waiting to read it but learn that it's not yet been released here.
And don't you think the best way you can share your concern for India more widely is by releasing an "eastern economy edition" of your book here?
Posted by: Karthik at Aug 19, 2007 11:25:48 PM
I must note that I didn't make any suggestion because I was in transit to India when the posting was made. Then by the time I saw it, it was (probably) too late to be in the early entries. I'm a frequent reader, so it was just bad luck.
BTW, hi Nancy Leibovitz (nancybuttons.com). Glad to see you reading and posting here. Small world.
Posted by: Russ Nelson at Aug 20, 2007 6:12:27 AM
IF you want to send money to someone who needs it like your examples of 1-6, you should really take a look at www.kiva.org.
Ron
Posted by: Ronald Cook at Aug 20, 2007 4:18:27 PM
IF you want to send money to someone who needs it like your examples of 1-6, you should really take a look at www.kiva.org.
Ron
Posted by: Ronald Cook at Aug 20, 2007 4:18:42 PM
IF you want to send money to someone who needs it like your examples of 1-6, you should really take a look at www.kiva.org.
Ron
Posted by: Ronald Cook at Aug 20, 2007 4:18:49 PM
IF you want to send money to someone who needs it like your examples of 1-6, you should really take a look at www.kiva.org.
Ron
Posted by: Ronald Cook at Aug 20, 2007 4:18:58 PM
I really appreciate the gesture you made with this thing. I personally know a guy whose suggestion got the bulk of money, and I am thrilled that he gets to carry out the noble gesture on your behalf.
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