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What Is Common Ownership?

An explanation of the meaning of common ownership.

by Ron Elbert

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2 min read

Quite simply, the common ownership of the world’s resources and productive capacity is the basis for a reorganisation of society that would ensure plenty of the necessities of life for everyone on the planet – no more starving, malnourished people, no wandering homeless, no senseless deaths for the want of easily affordable medical care and medicine, no more poverty, unemployment, or inequality. How can this be so? Surely, if it were possible to eliminate these scourges we would have done it long ago. Aren’t we working on these problems anyway?

At present we live in a world where the resources of the Earth and the products made from them, the processes needed to make them, and the transportation systems to get them to you, are all owned by private individuals. A company proposes to extract resources or manufacture commodities. It needs money in order to do this. Wealthy people loan the company the necessary capital, but they don’t do it for nothing. They will expect a healthy return on their money every year of say, 10 percent, or 100 000 on every million pounds loaned. If this return is below expectations, then the lenders will withdraw their funds and look somewhere else to invest.

This puts every enterprise in a competition for capital to fund their operations and for expansion. Thus all companies must compete and strive to do whatever is necessary to create profit to pay dividends to lenders. If a company fails in this, capital will dry up and production will stop, rendering its physical assets as junk or sold at a fraction of their value, and its employees will be out of work. In other words, commodities are only produced for the purpose of profit or they are not produced at all.

The profits go to a tiny minority of big investors of capital to enhance their already vast fortunes that allow them to live in luxury while contributing no work whatsoever.

We believe that the Earth’s resources are the common heritage of all mankind and should be managed for the benefit of all. Those resources are easily abundant enough to feed, clothe, and house everyone on earth and provide medical care, education and everything else necessary to ensure a full and happy life for every one.

The establishment of common ownership would eliminate the competition for resources and for capital. It would eliminate production for profit. It would eliminate the need for states and their central governments that exist to serve today’s competitive system. It would even eliminate the need for money and trading as goods and services would be produced solely to meet the needs of humans who would have free access to those goods and services, taking them as needed. Competition would be replaced by cooperation, eliminating conflict and war and because everybody and therefore no one person or group would own the means of producing wealth, everyone would stand equal to the powers of production – no owners and non-owners, no exploiters and exploited, no employers and employed, and therefore, no classes.

Today, this is quite obviously not the case. We have constant conflict and war, vast inequality, poverty, malnutrition, starvation and deprivation amid wealth and plenty. Workers produce all the wealth in the world and perform all the work, yet are only allowed to take home a small share of that wealth to enable them to exist so they can show up at work the next day to produce more profit that goes to the already wealthy. And they are only allowed to do so at the whim of that tiny minority of owners.

Today, nobody starves or goes hungry because we lack food. Nobody is homeless because we lack building materials or builders, nobody lives in poverty because we lack wealth. People suffer theses scourges because they are unable to pay and thus realize a profit for some enterprise or other. In one fell swoop, in one simple action, production for profit could be replaced with production to satisfy the needs of all.  Ø

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