Effective altruism and the dark side of entrepreneurship

Abstract

Purpose: Effective Altruism (EA) has become one of the most prominent socio-philosophical movements of recent years. EA is also facing intense scrutiny due to the business practices of some of its most prominent adherents. On the other hand, the dark triad traits of Machiavellianism, narcissism and psychopathy have been getting increasing attention in entrepreneurship research. There is growing evidence that these traits can motivate entrepreneurial intention. We therefore sought to investigate if there was a connection between the entrepreneurship discourse in EA and traits corresponding to dark triad behavior. Design/methodology/approach: Using a discursive analytic method, we investigated the discursive threads on entrepreneurship in EA over a 10-year period. Findings: While we believe EA brings a much-needed perspective to the overall debate on doing good, we found ample evidence that it might have promoted the sort of dark triad behavior which some evidence suggests can lead to financial success, but can equally lead to the type of morally bankrupt, unethical and even illegal practices of some entrepreneurs. We also discovered a somewhat temporal dimension in EA’s discourse on entrepreneurship, beginning with discourse encouraging some risk taking and entrepreneurship, before moving on to discourses on the benefits of having a smart and illicit character, and ending with a focus on aggressive risk taking. Originality: The findings contribute to the still nascent debate on dark personality traits in entrepreneurship, and enriches the theoretical advancement of the field. However, our research differs from prior studies which were almost exclusively focused on the firm. Instead, we examine this phenomenon within a highly influential belief system/philosophical movement. Copyright © 2023 Olumekor, Mohiuddin and Su.