English Pubs as “Assets of Community Value”
So why should investors always have the upper hand in “development” plans when the resource at stake is a beloved building or public space? Why should the divine right of capital necessarily prevail?
How refreshing to learn that England has created a special legal process for preventing market enclosures of community pubs. There is even a Community Pubs Minister, whose duty it is to recognize the value of pubs to communities and to help safeguard their futures. So far, some 100 pubs have been formally listed as “assets of community value.”
I know, I know – what would Margaret Thatcher say? "Damned government interventions in the free market!" Fortunately, that kind of market fundamentalism has abated for a bit, enough that the Community Pubs Minister -- Brandon Lewis, a Conservative Party member of Parliament! -- now extols “the importance of the local pub as part of our economic, social and cultural past, present and future.” He adds: “We have known for hundreds of years just how valuable our locals are. Not just as a place to grab a pint but also to the economies and communities they serve and that is why we are doing everything we can to support and safeguard community pubs from closure.”
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After the Internal Revenue Service refused to grant Couchsurfing tax-exempt nonprofit status – formally known as “501(c)(3)” status under the tax code – Couchsurfing decided to become a “Certified B Company,” or “for-benefit” corporation. As Marvelous points out, this was apparently the only way to move forward. (But is this true?) By 2012, Couchsurfing had raised more than $22 million in venture capital money and it was on its way to becoming another profit-oriented corporation in the “sharing economy.” (The so-called sharing economy, it should be noted, is less about sharing than about micro-rentals of things that previously could not be marketized.)



The right to create money and profit from it is known as seignorage. Banks currently enjoy this right and exercise it through their lending, which creates most of the money in circulation. Governments have effectively let banks privatize control of the money supply. In so doing, governments have forfeited the opportunity to provide debt-free lending to support productive enterprises and public needs as opposed to fueling boom-and-bust speculation and relentless economic growth that destroys the environment.
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