This note is a part of my Zettelkasten. What is below might not be complete or accurate. It is also likely to change often.
21st July, 2020

Vickerey Commons

William Spencer Vickrey proposed the idea of Common Ownership with all property is under constant auctioning. This was inspired by Henry George's Land Tax.

Each property - house, automobiles, factories, etc - will have a current highest bid, which is the rent which is paid by person in possession to the government.

If you can beat the bid, you can take possession of the asset. The money generated from this rent is used to fund public utilities and pay a Social Dividend.

Allocation Efficiency is prioritized by this approach but Investment Efficiency is lessenned because the property is constantly auctioned and moves hands. Therefore this is ideal for non-perishables like 3g Spectrums, etc.