Debt, interest, and effective altruism: Critically evaluating Singer’s utilitarian ethics in the context of contemporary economics

Abstract This paper critically evaluates Peter Singer’s effective altruism (EA) from the perspective of economic justice. It argues that the focus on individual charitable actions may overlook the structural causes of global poverty, particularly the systemic role of interest-bearing debt. While Singer’s utilitarian framework prioritizes measurable and cost-effective interventions to alleviate suffering, this paper contends that such an approach, when overly concentrated on quantifiable outcomes, may hinder long-term justice and reform. Drawing on historical, ethical, and contemporary economic insights, the paper highlights how modern debt structures perpetuate inequality and moral harm. It proposes that effective altruism must expand its focus to include advocacy for systemic change, such as debt relief, financial regulation, and institutional reform, in order to maintain ethical adequacy and genuinely address global suffering.