http://p2pfoundation.net/Trusts ---------- Forwarded message ---------- From: Facebook <[email protected]<update%[email protected]>

Date: Thu, Jan 6, 2011 at 5:43 PM Subject: Chris Cook commented on your link. To: Michel Bauwens <[email protected]> facebook Hi Michel, Chris Cook commented on your link. Chris wrote: "This is down the same road as Peter Barnes 'Capitalism 3.0' I think, and if so is flawed IMHO by the legal concept of Trusteeship, which was invented by lawyers (and FOR lawyers). Trusteeship is based upon the positive control of a 'Trustee' on behalf of a ' Beneficiary', and one of the key problems is that in order to actually DO anything with assets held in trust it is necessary to employ managers as agents, whose interests are conflicted with those of both trustee and beneficiary. This intractable principal/agency conflict also applies to all Companies, whether or not operating 'For Profit'. It also applies to States/ Public Sector organisations. The P2P architecture I advocate is based not upon ACTIVE control of assets, but passive custody where the custodian has negative rights of control. ie he may say what may NOT be done rather than what SHALL be done with productive assets. The use of such custodians is already routine in the financial system. Virtually all institutional share trading takes place in respect not of the shares, but of the economic interests in the shares which are immobilised in the hands of a custodian. So it must be IMHO in order to achieve a practical real world P2P system, where undated credits in respect of the use value of productive assets (eg rental value, energy value and intellectual value) hldl in custody may be exchanged within a suitable framework of trust." See the comment thread<http://www.facebook.com/n/?mbauwens%2Fposts%2F188192981207676&mid=38f9a0eG1f7c632bGd76ea77Ge&bcode=Sgopx&n_m=michelsub2004%40gmail.com> Reply to this email to comment on this link. Thanks, The Facebook Team See Comment<http://www.facebook.com/n/?mbauwens%2Fposts%2F188192981207676&mid=38f9a0eG1f7c632bGd76ea77Ge&bcode=Sgopx&n_m=michelsub2004%40gmail.com>This message was intended for [email protected]. If you do not wish to receive this type of email from Facebook in the future, please click here<http://www.facebook.com/o.php?k=c05bf5&u=528245547&mid=38f9a0eG1f7c632bGd76ea77Ge>to unsubscribe. Facebook, Inc. P.O. Box 10005, Palo Alto, CA 94303 -- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net Connect: http://p2pfoundation.ning.com; Discuss: http://listcultures.org/mailman/listinfo/p2presearch_listcultures.org Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens Think tank: http://www.asianforesightinstitute.org/index.php/eng/The-AFI