• J Lou@mastodon.social
    1·
    5 months ago

    A market can exist without private property by having capital be collectively owned and continuously up for auction to the highest bidder. Basically, each holder of means of production self-assess the price at which they would be willing to turn over that capital to another party, they pay a lease payment based on a percentage of that self-assessed price, and if someone comes along willing to pay that self-assessed price, require that they turn it over to that party

      • J Lou@mastodon.social
        2·
        5 months ago

        In what I described, the differences are:

        1. Buyers can compel current holders to transfer the asset to them if they pay enough. This reduces the power of capital holders.
        2. All self-assessed prices of all capital are public
        3. A large portion of the value of capital flows into a collective fund

        @microblogmemes