Partial Common Ownership (PCO) is a new system of property ownership inspired by the ideas in Radical Markets. It is both ethically fairer and economically more efficient than the systems of property espoused by capitalism (private-ownership) and communism (public-ownership).
Private ownership grants a monopoly over property without requiring owners to compensate their communities for positive externalities resulting from the network (e.g. your BAYC increases in perceived value because Jimmy Fallon purchased one) and the negative externalities imposed on the community (e.g. a single property owner can drive up the cost of a public works project).
Partial Common Ownership (PCO) is a fairer and more efficient alternative. Tokens governed by PCO simultaneously belong to no one and everyone. For a token to be governed by PCO, three conditions must be met:
A token’s owner must self-assess its valuation and broadcast this assessment to the network.
At any time, anyone can purchase the token by paying its owner their self-assessed valuation; owners cannot refuse to sell.
The owner periodically pays a fee to the network, proportional to the self-assessed valuation. This fee compensates the network for positive externalities accrued to the token’s owner and negative externalities imposed by the token’s ownership.
You may have heard of Partial Common Ownership by another name: SALSA (Self-Assessed Licenses Sold at Auction), COST (Common Ownership Self-assessed Tax), Harberger taxes, or depreciating licenses. Popularized in 2018 by Radical Markets, PCO is a cult favorite amongst mechanism designers, but has thus far failed to break through to the mainstream.
New to Partial Common Ownership? Get started in the
Itching to go deeper? Check out
Partial Common Ownership Community
We hold bi-weekly open calls for the community to discuss their projects, ask questions, and discuss generally. Please see our Discord for upcoming events.
Formally, we are an independent RadicalxChange chapter (i.e., independent from the RadicalxChange Foundation).
Ready to build? We’ve got you covered.
Partial Common Ownership 712 Labs
git clone https://github.com/721labs/partial-common-ownership.git
This Artwork Is Always On Sale Simon de la Rouviere
git clone https://github.com/simondlr/thisartworkisalwaysonsale.git