Economy With Collective Ownership Of Property Under A Central Government (update 2023)

Collective ownership refers to the concept of common ownership or communal ownership, where a group of individuals or a community collectively owns and manages a particular resource or asset. The goal of collective ownership is to ensure equitable distribution of resources, decision-making power, and responsibility among the members. This system of ownership is based on the principle that everyone should have access to the benefits and responsibilities associated with the resource, and no one should have exclusive control or ownership. Collective ownership can take various forms, including cooperatives, communal land ownership, or common pool resources. It has been used in various sectors ranging from agriculture to housing and has become a potent tool for communities to preserve their assets and resources while promoting social justice and equality.

Economy With Collective Ownership Of Property Under A Central Government

An economy with collective ownership of property under a central government is referred to as a socialist or communist economic system. In this system, the government owns all of the means of production and distribution, including factories, land, and resources. Proponents of this system argue that it promotes equality and reduces the wealth gap between rich and poor.

In a centrally planned economy, the government sets production goals and decides how resources will be allocated to meet those goals. Prices are often set by the government rather than by the free market, and there is typically no competition between firms.

However, critics argue that this kind of economic system can lead to shortages and inefficiencies due to a lack of incentives to innovate and improve productivity. Additionally, centralized decision-making can lead to bureaucratic red tape and corruption.

Overall, an economy with collective ownership of property under a central government can offer benefits in terms of reducing income inequality, but it can also come with drawbacks in terms of decreased efficiency and innovation.

What's Wrong With Collective Ownership?

Collective ownership

Ownership of means of production by all members of a group for their benefit

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Collective ownership is the ownership of property by all members of a group. The breadth or narrowness of the group can range from a whole society to a set of coworkers in a particular enterprise (such as one collective farm). In the latter (narrower) sense the term is distinguished from common ownership and the commons, which implies open-access, the holding of assets in common, and the negation of ownership as such.

Collective ownership of the means of production is the defining characteristic of socialism, where “collective ownership” can refer to society-wide ownership or to cooperative ownership by an organization’s members. When contrasted with public ownership, “collective ownership” commonly refers to group ownership (such as a producer cooperative).

See also

• Common ownership
• Condominium
• Cooperative
• Market socialism
• Mutualization
• Public ownership
• Social ownership
• Socialism
• Worker cooperative
• Employee stock ownership

References

v t e Property
By owner	Collective Common Communal Community Crown Customary Cooperative Private Public Self Social State Unowned
By nature	Estate Croft Intangible Intellectual indigenous Personal Tangible real
Commons	Common land Common-pool resource Digital Global Information Knowledge
Theory	Bundle of rights Commodity fictitious commodities Common good (economics) Excludability First possession appropriation homestead principle Free-rider problem Game theory Georgism Gift economy Labor theory of property Law of rent rent-seeking Legal plunder Natural rights Ownership Property rights primogeniture usufruct women’s Right to property Rivalry Tragedy of the commons anticommons
Applications	Acequia (watercourse) Ejido (agrarian land) Forest types Huerta Inheritance Land tenure Property law alienation easement restraint on alienation real estate title Rights Air Fishing Forest-dwelling (India) Freedom to roam Grazing pannage Hunting Land aboriginal indigenous squatting Littoral Mineral Bergregal Right of way Water prior-appropriation riparian
Disposession/ redistribution	Bioprospecting Collectivization Eminent domain Enclosure Eviction Expropriation Farhud Forced migration population transfer Illegal fishing Illegal logging Land reform Legal plunder Piracy Poaching Primitive accumulation Privatization Regulatory taking Slavery bride buying human trafficking spousal husband-selling wife selling wage Tax inheritance poll progressive property Theft
Scholars (key work)	Frédéric Bastiat The Law Ronald Coase Friedrich Engels The Origin of the Family, Private Property and the State Henry George Progress and Poverty Garrett Hardin David Harvey John Locke Two Treatises of Government Karl Marx Das Kapital Marcel Mauss The Gift John Stuart Mill Elinor Ostrom Karl Polanyi The Great Transformation Pierre-Joseph Proudhon What Is Property? David Ricardo Murray N. Rothbard The Ethics of Liberty Jean-Jacques Rousseau The Social Contract Adam Smith The Wealth of Nations
Categories: Property Property law by country

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