(Roughly) Daily

Posts Tagged ‘ownership

“Justice is not the work of the law: on the contrary, the law is only the declaration and application of what is just in all circumstances where men have relations with one another”*…

This essay proposes a new model of personal and public wealth-building that can address the current crisis of inequality in the United States. We place contemporary American wealth inequality into its historical context by tracing how federal government policies have worked to support personal and public wealth building across three periods: the First Industrial Revolution of the mid-19th century, the Second Industrial Revolution of the early 20th century, and the Information and Communication Technology revolution of the late-20th century. We then suggest a series of potential governmental policies that can help to ensure a more equitable wealth distribution in the future. Our proposed “mutualist” model of political economy would allow for the large-scale diffusion of productivity gains that may follow the installation of deployment of the next wave of general-purpose technologies. This new social contract will move beyond the welfare state’s focus on insurance toward a more radical notion of shared ownership of returns on capital via universal individual capital endowments and new public investment channels that control shares in firms and intellectual property…

Addressing inequality in the U.S.: “The Mutualist Economy: A New Deal for Ownership“– Nils Gilman (@nils_gilman) and Yakov Feygin (@BuddyYakov) offer a powerfully-provocative proposal.

They join a growing chorus. See also, e.g., Louis Hyman (toward the end of this essay) and Lynn Forester de Rothschild (in this interview).

[Image above: source]

Pierre-Joseph Proudhon, describing an ideal state

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As we rethink what isn’t working, we might send gilded birthday greetings to Johns Hopkins; he was born on this date in 1795. A businessman who is largely remembered as a philanthropist, he operated wholesale and retail businesses in the Baltimore area; he built his fortune by judiciously investing his proceeds in myriad other ventures, most notably, the Baltimore and Ohio (B & O) Railroad. In 1996, Johns Hopkins ranked 69th in “The Wealthy 100: From Benjamin Franklin to Bill Gates – A Ranking of the Richest Americans, Past and Present

His bequests founded a number institutions bearing his name, the best-known of which are, of course, Johns Hopkins Hospital and Johns Hopkins University.

Although Hopkins is widely-noted as an abolitionist, recent research indicates that Johns Hopkins was a slave owner for at least part of his life.

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Written by (Roughly) Daily

May 19, 2021 at 1:01 am

“Just like heaven. Ever’body wants a little piece of lan’… Nobody never gets to heaven, and nobody gets no land”*…

 

 larger version here

The rough beauty of the American West seems as far as you can get from the polished corridors of power in Washington DC. Until you look at the title to the land. The federal government owns large tracts of the western states: from a low of 29.9% in Montana, already more than the national average, up to a whopping 84.5% in Nevada…

More on government land, the uses to which it is put, and the issues it raises at “How the West Is Owned.”

* John Steinbeck, Of Mice and Men

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As we wonder what Horace Greeley was on about, we might recall that it was on this date in 1601 that agents of Robert Devereux, 2nd Earl of Essex, paid Shakespeare’s theater troupe, The Lord Chamberlin’s Men, to perform Richard II.  The group had been reluctant to dust off the by-then old piece of repertoire, but were convinced by a 40 shilling “gratuity.”  Essex’s purpose in the endeavor was to stir the public against Queen Elizabeth (who identified– and was identified with– the childless, and thus heir-less Richard II, who is deposed in the play).

Essex had squandered and blundered his way into financial trouble and out of the Queen’s graces; desperate, he had plotted a rebellion that he launched two days after the play’s performance– only to find that he had garnered no support at all from the people.  He was quickly captured by Elizabeth’s Lord High Admiral (the Earl of Nottingham) and his men, tried, convicted, and on February 25th, less than two weeks after his patronage of the stage, beheaded at the Tower of London.

The rebellious Earl of Essex

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Written by (Roughly) Daily

February 7, 2015 at 1:01 am

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