I ask myself “How much is enough?” several times daily. My husband and I make good money \u2014 over $100,000 in combined income \u2014 own a home in an expensive city, have two large dogs, and are able to buy most of what we want. I don’t have a problem with normal spending, but I often feel bad when I purchase something really nice<\/b> (such as a nice purse, a collectible book, etc).<\/p>\n Just yesterday, I read an article on an entertainment site about Steven Spielberg’s $200 million personal yacht<\/a>. I think that this a a crazy, immoral waste of money. He could make a HUGE<\/u> difference by using that $200 million for charity.<\/p>\n I guess my point is: Am I really any better?<\/b> No, I’m not buying a yacht anytime soon, but I do buy luxury items. And someday I’d like the satisfaction of being able to buy my husband a Range Rover. (He loves those damn cars.) My husband doesn’t feel guilt for having these things, but (if I’m being completely honest with myself) I do. Oddly enough, I majored in finance in college and am currently studying for the CFA exam<\/a>, so the topic of “efficiency and equity<\/a>” is really on my mind.<\/p><\/blockquote>\n Four years ago, prompted by this thoughtful essay in the New York Times<\/i><\/a>, I asked: What should a billionaire give, and what should you?<\/p>\n In this essay, philosopher Peter Singer discussed the magnitude of charitable donations from the two richest men in the world<\/a>: Warren Buffett contributed $37 billion to charitable foundations, and Bill and Melinda Gates gave $30 billion. Singer wrote:<\/p>\n Philanthropy on this scale raises many ethical questions: Why are the people who are giving doing so? Does it do any good? Should we praise them for giving so much or criticize them for not giving still more? Is it troubling that such momentous decisions are made by a few extremely wealthy individuals? And how do our judgments about them reflect on our own way of living?<\/p><\/blockquote>\n Singer’s article discusses the ethics of giving, and tries to establish some guidelines. (It’s a fascinating read but it’s long, so budget half an hour or so.)<\/p>\n After years of dithering, I’m finally moving forward with philanthropy in my own life. I’ve been researching (and finding!) causes to support. I’ve been exploring the possibility of volunteer tourism. And one of my goals for Awesome People<\/a> is to donate all profits to charity. (I’ll share more about my forays into philanthropy in coming months.)<\/p>\n But Rita’s question is about more<\/i> than just giving. It’s also about consumption. When we buy things, there are ramifications across a vast economic web. This is why some people are willing to pay a premium to buy local or to buy organic. It’s also why some people insist on buying American and others boycott specific items. (Some people refuse to buy diamonds; my high-school social studies teacher refused to buy bananas.)<\/p>\n On a basic level, every time we choose to buy a comfort or a luxury, we’re also making the choice not<\/i> to use the money to help somebody else \u2014 whether in our own community or in the world at large. To what degree is this acceptable? To what degree is this reprehensible?<\/p>\n This goes beyond just the personal level, of course.<\/p>\n I used to think there were clear answers to questions like these. Now I’m not so sure. What is right and what is wrong?<\/b><\/p>\n\n
![\"xkcd:](\"https:\/\/imgs.xkcd.com\/comics\/charity.png\" "\\"xkcd:")
<\/a>
\nxkcd tackles the morality of spending…<\/i><\/div>\n\n