Interdependent Capitalism

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Concept

"Conrad Yun, Executive Director of Yun Family Foundation, commented, "In the prehistoric age, we all lived in kin tribes. Genetic alignment of interests deterred self-dealing and incentivized altruistic behaviors—something biologists call Hamilton's rule. Today, while the nuclear family persists, the roles once played by our extended kin are often played by strangers who don't have kin skin in the game. As a result, self-dealing has proliferated not only in our social, political, and economic institutions but also in neighborhoods and communities."

Jeremy Yun, Director of Yun Family Foundation, discussed the idea of a Hamilton's rule for economics in his TEDx talk. "Without mutually vested interest in each other's success, perverse incentives undermine our social contract everywhere," he added. "A government of checks and balances becomes a system of checks written to account balances of politicians. Socialism and capitalism both fail when behaviors are extractive."

Joon Yun, Principal of Yun Family Foundation and President of Palo Alto Investors, stated, "We need to develop social algorithms of inclusive stakeholding modeled after bioalgorithms of inclusive fitness. Of all the compelling possibilities, one stands above all: Interdependent Capitalism. We believe that rewiring human incentives around mutually vested interests in each others' success will be the key innovation in creating a better world. This book is about how we will write that story together."

Jeremy Yun, who is a guitarist in the social activism band WJM, proposed during a July 4th concert in San Francisco about a global holiday called Interdependence Day. "The Declaration of Independence was no doubt a monumental event," he added. "But how do we reconcile the celebration of independence with the reality that Britain is now a close ally in the emerging global village?"

Conrad Yun added, "Health insurers are not currently incentivized to invest in their clients' long term health. But imagine these companies having a vested interest, through smart contracts on the Blockchain, in the health savings of clients ten years down the road. Imagine designing smart contracts on the Blockchain that allow students to reward teachers throughout life as a way to create vested interests." (https://www.marketwatch.com/press-release/yun-family-foundation-announces-the-publication-of-a-new-book-interdependent-capitalism-redesigning-the-social-contract-through-inclusive-stakeholding-2019-03-02)


Book

* Book: Interdependent Capitalism: Redesigning the Social Contract through Inclusive Stakeholding. By Joon Yun, Jeremy Yun, and Conrad Yun. Yun Family Foundation, 2019

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The book supports the Inclusive Stakeholding Initiative