Value of Support

About two years ago, I wrote a post entitled: What is your most controversial belief? My answer was that I didn't support many seemingly worthy causes, namely giving to cancer research. I felt that charitable donations skewed the cost and benefit analysis done by profit seeking research firms. Thanks to loyal commenters I was convinced that caring friends and family affected by various diseases rationally subsidize such research, thereby improving overall welfare. Earlier this year I posted again to better explain why such donation drives had bothered me. I presented some research that showed by simply asking someone to donate to charity, you actually cost (in the economic sense) them up to $3.50.

Recently, I have been reminded of these issues, but in a more personal and less economic way. An old roommate and good friend of my wife's was recently diagnosed with Type 1 Diabetes, which can be fatal unless treated regularly with insulin shots. Her story is simultaneously tragic and hopeful. To channel her frustrations, she and her husband have committed themselves to participating in a 72 mile bike ride around Lake Tahoe which requires that they raise $8,000 for Diabetes research. My wife and I wanted to support them to bring the the world marginally closer to a cure, but mostly because we love them and wanted to encourage them, which is worth a lot (even in the economic sense).