[A Sip of Books] The Future of Humanity Threatened by Corporate Market Domination: The Paradox of Profit

Some sentences encapsulate the entire content of the book itself, while others instantly resonate with the reader’s heart, creating a connection with the book. We present meaningful sentences excerpted from the book. - Editor’s note

The 20th century was an era of mass production, where input and added value were proportional. However, in the 21st century, the era of technology intensification, the labor resources invested and the outcomes are not proportional. A very small number of highly successful companies holding a brand super-gap advantage possess strong authority over product pricing. Consequently, the rights and value of workers tend to be marginalized. The author raises issues about the current situation where workers are forced to buy expensive products and technology itself is suppressed by large corporations.

No matter how beneficial it is, the illusion of a free product is exactly that?an illusion. Whether it is a labor contract, buying bread, or exchanging antiques, all exchanges occur when both parties improve each other. I am willing to exchange a loaf of bread for 2 dollars, and the baker prefers money over having bread. Google Maps or restaurant review apps are no exception. The app provides a service I like, but in return, I offer the effort of viewing ads along with my usage records. And my usage records can be used to enhance the experiences of other users (including my own).

In some fields, new technologies are standing up against the so-called ‘big-box retail model.’ The big-box retail model refers to companies building large chain stores with very large parking lots on the outskirts of cities. Amazon’s online distribution network counters Walmart’s big-box strategy, and Toys "R" Us lost its shine after failing to capture the online market.

Although inequality has decreased globally, income inequality has increased within each of these countries. Now inequality is expanding at the national level, evoking Simpson’s paradox. When comparing groups with different compositions (smokers/non-smokers and rich countries/poor countries), once they are combined, their composition ratio changes according to the overall population.

The Paradox of Profit | Written by Jan Eikhout | Translated by Kang Seongsil | Korea Price Information | 440 pages | 17,800 KRW

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