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:
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.
Partial Common Ownership Community
Formally, we are an independent RadicalxChange chapter (i.e., independent from the RadicalxChange Foundation).