Interdependent Capitalism: Redesigning the Social Contract through Inclusive Stakeholding Kindle Edition
by Joon Yun (Author), Jeremy Yun (Author), & 1 more Format: Kindle Edition
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The story we’re telling is simple: as humans have globalized, family values have not scaled well. Not so many lifetimes ago, we lived in kin tribes comprised of our aunts, uncles, cousins, and other relatives. Because of the genetic relatedness of our fellow kin, our interests were aligned according to the principles of inclusive fitness.
Today, we no longer in live in kin tribes. The roles once played by our extended kin are often played by strangers. Fake news, fake foods, and fake politicians are catalyzed by the same underlying phenomenon of low alignment. Heroes we admired used to be our uncles and aunts. Now, we admire celebrities who maximize profit by encouraging us to buy their endorsed products. Such transactional dynamics have transformed virtually every type of human relationship, right down to the Tinder culture.
When misaligned interests are combined with competition, a “race to the bottom line” ensues. If we force one media company to use less clickbait, another will use more in order to pick up the other’s market share. If we force one food company to use less sugar, another will use more to fill the void in the market. In a way, the Kardashians and high-fructose corn syrup are really the same phenomenon—the inevitable outcome of a race to the bottom line, when misalignment meets capitalism.
The time has come to rewrite our social contract for the modern era.
We are writing this book to help audiences around the world imagine entirely new types of social, political, and economic institutions based on inclusive stakeholding, congruent goals, and a vested interest in the success of others—attributes that were inherent in the inclusive fitness of our prehistoric social systems.
The time has come for Interdependent Capitalism.
Editorial Reviews
About the Author
Dr. Joon Yun is President of Palo Alto Investors LP, a hedge fund founded in 1989. Board certified in radiology, Joon served on the clinical faculty at Stanford. Joon is a trustee of the Salk Institute and was the $2 million founding donor to the National Academy of Medicine Aging and Longevity Grand Challenge. Joon holds a MD from Duke Medical School and a BA from Harvard University. He has been to Burning Man the past 19 years.
Jeremy Yun is Director of Yun Family Foundation. He is also a guitarist, songwriter, and co-founder of the band WJM. With his band, Jeremy has appeared live in front of millions of viewers on prime time TV shows such as NBC’s Little Big Shots and the European TV show Super Kids. He and his bandmates have performed at rock festivals, the United Nations, Burning Man, YouTube, the Leukemia and Lymphoma Society, and UCSF Benioff Children’s Hospital. Jeremy gave a TEDx talk “The New Social Contract” in 2017 and serves on the board of the Purpose Awards.
Conrad Yun has over 20 years of experience as an investor and entrepreneur. Conrad manages a family office with investments across a range of public and private assets, including in numerous startups. Conrad is also Executive Director of Yun Family Foundation and its affiliate Palo Alto Institute, which are nonprofits sponsoring initiatives in the areas of aging, nutrition, childhood diseases, technology and art. Previously, Conrad worked in the technology sector as an executive and founder of startups in Europe and Asia and also as a corporate lawyer at Cravath, Swaine & Moore. Conrad is a CFA charterholder and holds a JD from University of Chicago Law School and a BA from Harvard University.
--This text refers to the paperback edition.
Product details
ASIN : B07NSW9SYZ
Publication date : February 15, 2019
Language : English
File size : 603 KB
Print length : 126 pages
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Top reviews from the United States
Lisa M Thomas-Tench
5.0 out of 5 stars The fractured social context of capitalism: Our evolutionary lag error writ large
Reviewed in the United States on March 19, 2019
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We need more books like this one.
Let's be clear. A market economy is felt to rely on consistency or sameness rather than diversity, and bureacracy serves this goal, but, as this book points out, our evolutionary lag error gets in the way. Bureaucracy meant, in the past, that individuals could repeat tasks more quickly which drove down the costs of production, making goods and services less expensive. Recently, economic gains made from the bureaucratic principles developed in the past have slowed as it becomes harder to increase production capacity without harmful effects. The literature shows that not all bureaucratic organizational forms are efficient. Where markets and environments change frequently, it becomes advantageous to adapt. When the bureaucracy of an industry is self-contained, it cannot shift and grow. When it expands outward, it allows its processes and its products to be informed by demand.
As far back as 1893, Emile Durkheim considered that organizations may have to become more heterogeneous in their bureaucratic forms to respond to increased complexities driven by technology, a view which is as valid today as is was in his time. Durkheim, like Jane Jacobs after him, demonstrated that rapid transitions forced on communities due to the instigation of organizational bureaucracies, cause profound social disruption. (Jane Jacobs' work is chronically underutilized, and it is wonderful to see her theories addressed herein.) This book demonstrates that it is this social disruption that adds to the success of the macro-level labour market, and demonstrated that the flexibility and diversity of modern labour markets is what makes them viable and competitive in the global market. By shifting business policy towards a less-diverse standard, industries may find themselves at a loss to adapt over the long run.
Ultimately, power is a dimension of bureaucracy that few politicians and business leaders want addressed, as it may bring attention to their own positions and the way that they wield their influence both within and without their organizations. And yet power is a central, and critical, component of the principles of bureaucracy which has not been duly recognized within economic theory; although power, motivation and social structure manipulation are closely tied to game theory and organizational strategy in the form of bureaucratic principles, recognition of the importance of these components within the social context is rarely explicit.
I'd highly recommend this book for those who are interested in gaining clear insight into what we need to pay attention to in our social economy, both local and global.
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James T Kentfield
1.0 out of 5 stars Billionaires are ill-advised to self-publish books
Reviewed in the United States on May 16, 2019
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To some extent, Joon Yun is attempting to take his "19 year of Burning Man" and devote it to a good cause—a rethinking of modern capitalism through the dis-intermediating lens of blockchain. However, for someone this wealthy, and educated, he should know to hire a editor and writer. This book may actually harm the meta-capitalist 'movement' with its cursory research and ill-formed thesis. If the Yun Family truly wanted to seed this new world of thought, they can invest in any of the great thinkers of this space.
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rosetta star
5.0 out of 5 stars Wow. Thank you. Great read. Great insight.
Reviewed in the United States on April 14, 2019
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I’m inspired by the expansive explanation of our cultural (and symptomatically everything else) ills. I can’t wait to share my little slice of the plan with the authors. The future is near.
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Amazon Customer
5.0 out of 5 stars Most Pressing Book for Humanity to Read
Reviewed in the United States on May 25, 2019
The Yun Family Foundation is at the cutting edge of redesigning our global social fabric towards an inclusive fitness through Music and technologies like Blockchain. This book dives deep into the mechanisms at play in evolution that have gotten us here and how we can best move forward. Must read for all in civilization.
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