Why Doing Good is Good for YOU: A Conversation with a Billionaire

Imagine this: a group of philosophers and thinkers meet with a self-interested billionaire to convince her that doing good things for others can actually benefit her. Let’s see how they make their case!

Billionaire: So, you all think I should care about doing good? Why should I? I’ve made my billions by looking out for myself, not worrying about others.

Stoic Philosopher: Well, let’s start with something practical. Stoics believe in living a life that’s beneficial to oneself by staying calm and steady, regardless of what happens around us. Think about how unpredictable life can be, even for someone as wealthy as you. Helping others actually makes you more stable and gives you allies. When tough times come—and they will come—those you’ve helped could become powerful allies who help you weather those storms. It’s like an insurance policy for your well-being.

Billionaire: So you’re saying that by helping others, I’d be protecting myself?

Stoic Philosopher: Exactly. In Stoicism, we call it “reciprocity.” You help others, they help you. You don’t need to feel for them; just consider it a strategy to maintain your position. The strongest people are those with a loyal network—and that doesn’t come by ignoring others.

Evolutionary Psychologist: Let me add to that! From an evolutionary psychology standpoint, we humans are wired for cooperation. We’ve survived as a species by helping each other. When you do something good for others, it triggers a “reciprocity effect.” People will instinctively feel a desire to repay your kindness. This means doing good actually increases your influence over others, which can give you more control in the long run.

Billionaire: Influence, huh? Interesting. But isn’t helping people costly? Why spend my time and resources if they’re just going to take it for granted?

Behavioral Economist: That’s a great question, and it’s one we study often. Behavioral economics shows that people value relationships over things. Think of the “free rider problem”: when people benefit without giving anything back, it usually leads to weaker connections. But people naturally want to return favors. Doing good creates a loop where they feel they owe you something in return. This “favor loop” keeps them connected and makes it harder for them to undermine you or ignore you. By strategically doing good, you can keep others loyal to you at a low cost, rather than spending your resources later to fix a problem.

Billionaire: So I’m hearing that people might feel indebted to me. But why wouldn’t they just forget and move on?

Buddhist Monk: Ah, that’s where a little “mindfulness” comes in. You see, in Buddhism, we understand that kindness creates a sort of “karmic footprint.” If you’re seen as someone who’s done good, it stays with people subconsciously, even if they don’t realize it. You’re planting seeds in their minds. They might forget the exact favor, but they won’t forget the feeling that you’re someone worth respecting or being kind to in return. Think of it as building your reputation and brand in a way that’s nearly invisible but incredibly powerful.

Billionaire: A lasting reputation, okay. So, how would this really help me in, say, a business deal?

Evolutionary Psychologist: Reputation is everything in high-stakes environments. Studies in psychology show that people tend to trust and choose to work with people who have a reputation for fairness and generosity. It makes them feel safe around you. Even if you’re not “actually” selfless, people who perceive you as someone who cares are more likely to agree to your terms and support your projects. People just want to trust those who are helpful and generous.

Ethicist: Plus, think about the power of influence. Helping people creates a ripple effect. If you do something good for one person, that influence can spread as they share their experience with others. In ethical studies, this is often called the “halo effect.” If people see you as a force for good, that image amplifies through your network. It’s a simple way to build influence without having to constantly prove yourself.

Billionaire: Alright, let’s say I do good. But aren’t I just making people expect even more from me? How does this help me if they’re always asking for more?

Behavioral Economist: Here’s the trick: there’s a natural balance that emerges. By choosing strategic ways to help, you manage expectations and establish a boundary. People often respect those boundaries, especially when they see you consistently delivering on reasonable acts of goodwill. This way, they don’t feel abandoned, and you don’t feel overwhelmed. You’re in control, setting the terms of your generosity.

Stoic Philosopher: Exactly. And in Stoic thought, this act of setting boundaries while doing good is called prudence—being wise in choosing how and when to help. It’s about protecting yourself from chaos while maintaining order. People know what to expect, and you keep a reputation of being fair without overextending yourself.

Billionaire: So this whole “doing good” thing could help with loyalty, influence, reputation, and even my peace of mind. But is there any bigger reward?

Buddhist Monk: In Buddhism, we believe there’s a kind of inner satisfaction, or contentment, that comes from doing good—even if you’re not emotionally invested. When you act kindly, it creates a balanced and harmonious feeling within yourself. Think of it as inner calm, which makes you less stressed. You’ll find that even in high-stress situations, you’ll feel more in control and balanced because you’re working with people, not against them.

Evolutionary Psychologist: And as a final thought, remember that doing good doesn’t take away from your power—it adds to it. It’s a way to make others see you as powerful but trustworthy, a “benevolent leader,” so to speak. It’s rare, and people value it deeply. In an evolutionary sense, you’re positioning yourself as a leader that others feel comfortable supporting, which is a smart survival strategy.

Billionaire: Interesting. You’ve made a pretty strong case that even for someone like me, doing good has benefits. So, it’s more like… good is an investment in influence, loyalty, and my own mental peace.

Stoic Philosopher: Exactly. You can think of doing good as a practical investment in building a life that’s not only powerful but also stable and resilient. It’s like planting seeds that will protect and benefit you later.

Billionaire: Alright, you’ve convinced me. I’ll start thinking of ways to “do good”—for myself, of course.

Philosophers: That’s all we ask!