this post was submitted on 27 Feb 2024
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"Labour Market" (lemmy.ml)
submitted 9 months ago by [email protected] to c/[email protected]
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[–] [email protected] 1 points 9 months ago* (last edited 9 months ago) (1 children)

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

[–] [email protected] 1 points 9 months ago (1 children)

Maybe I'm not getting it, bu that just sounds like capitalism with extra steps.

[–] [email protected] 2 points 9 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

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