High risk, low reward: A challenge to the astronomical value of existential risk mitigation
David Thorstad (Global Priorities Institute, University of Oxford)
GPI Working Paper No. 6-2023, published in Philosophy and Public Affairs
Many philosophers defend two claims: the astronomical value thesis that it is astronomically important to mitigate existential risks to humanity, and existential risk pessimism, the claim that humanity faces high levels of existential risk. It is natural to think that existential risk pessimism supports the astronomical value thesis. In this paper, I argue that precisely the opposite is true. Across a range of assumptions, existential risk pessimism significantly reduces the value of existential risk mitigation, so much so that pessimism threatens to falsify the astronomical value thesis. I argue that the best way to reconcile existential risk pessimism with the astronomical value thesis relies on a questionable empirical assumption. I conclude by drawing out philosophical implications of this discussion, including a transformed understanding of the demandingness objection to consequentialism, reduced prospects for ethical longtermism, and a diminished moral importance of existential risk mitigation.
Other working papers
The evidentialist’s wager – William MacAskill, Aron Vallinder (Global Priorities Institute, Oxford University) Caspar Österheld (Duke University), Carl Shulman (Future of Humanity Institute, Oxford University), Johannes Treutlein (TU Berlin)
Suppose that an altruistic and morally motivated agent who is uncertain between evidential decision theory (EDT) and causal decision theory (CDT) finds herself in a situation in which the two theories give conflicting verdicts. We argue that even if she has significantly higher credence in CDT, she should nevertheless act …
The scope of longtermism – David Thorstad (Global Priorities Institute, University of Oxford)
Longtermism holds roughly that in many decision situations, the best thing we can do is what is best for the long-term future. The scope question for longtermism asks: how large is the class of decision situations for which longtermism holds? Although longtermism was initially developed to describe the situation of…
Meaning, medicine and merit – Andreas Mogensen (Global Priorities Institute, Oxford University)
Given the inevitability of scarcity, should public institutions ration healthcare resources so as to prioritize those who contribute more to society? Intuitively, we may feel that this would be somehow inegalitarian. I argue that the egalitarian objection to prioritizing treatment on the basis of patients’ usefulness to others is best thought…