6966Re: Generalizing Peer Production into the Physical World
- Nov 5, 2007The conventional view remains that the choice is EITHER:
(a) Public = State owned; OR
(b) Private = "owned by a "Joint Stock Limited Liability Company"
(a) "Equity" in a Corporation; or
(b) Debt in the form of credit created by a credit intermediary, aka
Well, it just ain't so: here in Scotland we don't just have "Guilty"
and "Not Guilty" we also have "Not Proven" and the new enterprise
models now emerging lie in that "uncertain" space.
ie there are new legal mechanisms/ protocols which may be used
instead of "the Corporation" to create new - and possibly optimal -
For instance, in Canada, Trust law has been used to create an entire
new asset class - "Income Trusts" - allowing listed Companies to sell
off "units" in their GROSS revenues.
Pension funds love these because they get their hands on revenues
before the management does, and shareholders love them because they
get their hands on money now without the fixed overhead costs and
risks of debt.
Trust law is essentially judge-made and is complex and costly (which
is why lawyers love it) with tax issues for other professionals also
to make money out of, plus management conflicts.
It was Michael Bauer, I think, who came up with the phrase "Open
Corporate" here a few years ago in the context of "Common Source".
I believe that the use of consensual partnership-based protocols,
like the US LLC and the UK LLP - a true "Open" Corporate now also
available in Dubai, Qatar, Japan, and shortly, India - allow simple
new mechanisms with cross-border application - a form of legal XML if
By putting property into "trust" with a custodian, and then creating
simple revenue-sharing agreements between the providers
of "financial" and "intellectual" capital it is possible to develop
property of all types in a simple and straightforward way.
I wrote this
almost six years ago in the context of global markets, where I
continute to be engaged in developing new - peer-to-peer - market
For those interested in conspiracy theories, the "Iran Oil Bourse" -
about which so much nonsense was all over the Net - was my idea, and
is in fact still quietly ticking over...
--- In email@example.com, Julian Bond
> Scott Feamster <sf@...> Sun, 4 Nov 2007 14:57:16
> >However, history has already proven that market/capitalist
> >better than peer/communist economies, except for communist partybosses.
> >Were communist gulags fun?within
> >Additionally, market economies allow for voluntary peer economies
> >them. Communist economies are command and control.suffer
> This really isn't the forum but I couldn't let that pass without a
> comment. IMHO mixed Capitalist/Socialist/Peer economies provide the
> highest quality of life for the greatest number. But even these
> from excessive centralised control. Wherever command and control isare
> de-centralised it seems to improve things, but there is constant
> pressure in all the tribes to aggregate power into the centre.
> And of course, centralised-decentralised, and controlling-anarchic
> both orthogonal to capitalist-communist.choice.
> ps. Anarcho-Capitalist or Anarcho-Syndicalist, that's the real
> Julian Bond E&MSN: julian_bond at voidstar.com M: +44 (0)77 5907
> Webmaster: http://www.ecademy.com/ T: +44 (0)192 0412433
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