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shokwave comments on Efficient Charity: Do Unto Others... - Less Wrong
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Some of those other variables will feed back in to the "child's life" variable, a generation or two down the road.
Feeding back into "child's life" a few generations down the road is not a multiplier of a few hundred. That it feeds back gives it an extra 10% or so; even with the feeding back, doing anything that isn't directly saving as many lives as possible right now is an objectively worse option.