<a href="http://p2pfoundation.net/Trusts">http://p2pfoundation.net/Trusts</a><br><br><div class="gmail_quote">---------- Forwarded message ----------<br>From: <b class="gmail_sendername">Facebook</b> <span dir="ltr"><<a href="mailto:update%2Bpjiidwm@facebookmail.com">update+pjiidwm@facebookmail.com</a>></span><br>
Date: Thu, Jan 6, 2011 at 5:43 PM<br>Subject: Chris Cook commented on your link.<br>To: Michel Bauwens <<a href="mailto:michelsub2004@gmail.com">michelsub2004@gmail.com</a>><br><br><br>
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<table width="100%"><tbody><tr><td style="font-size: 12px;" valign="top" width="470px" align="left"><div style="margin-bottom: 15px; font-size: 13px;">Hi Michel,</div><div style="margin-bottom: 15px;">Chris Cook commented on your link.</div>
<div style="margin-bottom: 15px;">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."
<br><br><table style="border-collapse: collapse;" cellpadding="0" cellspacing="0"><tbody><tr><td style="padding: 10px; background-color: rgb(255, 249, 215); border: 1px solid rgb(226, 200, 34);"><a href="http://www.facebook.com/n/?mbauwens%2Fposts%2F188192981207676&mid=38f9a0eG1f7c632bGd76ea77Ge&bcode=Sgopx&n_m=michelsub2004%40gmail.com" style="color: rgb(59, 89, 152); text-decoration: none;" target="_blank">See the comment thread</a></td>
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Reply to this email to comment on this link.<br></div><div style="margin: 0pt;">Thanks,<br>
The Facebook Team</div></td><td style="padding-left: 15px;" valign="top" width="150" align="left"><table style="border-collapse: collapse;" cellpadding="0" cellspacing="0"><tbody><tr><td style="padding: 10px; background-color: rgb(255, 249, 215); border: 1px solid rgb(226, 200, 34);">
<table style="border-collapse: collapse;" cellpadding="0" cellspacing="0"><tbody><tr><td style="border-width: 1px; border-style: solid; border-color: rgb(59, 110, 34) rgb(59, 110, 34) rgb(44, 81, 21); background-color: rgb(105, 167, 78);">
<table style="border-collapse: collapse;" cellpadding="0" cellspacing="0"><tbody><tr><td style="padding: 4px 10px 5px; border-top: 1px solid rgb(149, 191, 130);"><a href="http://www.facebook.com/n/?mbauwens%2Fposts%2F188192981207676&mid=38f9a0eG1f7c632bGd76ea77Ge&bcode=Sgopx&n_m=michelsub2004%40gmail.com" style="color: rgb(255, 255, 255); text-decoration: none; font-weight: bold; font-size: 13px;" target="_blank">See Comment</a></td>
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