Collective ownership is the ownership of means of production by all members of a group for the benefit of all its members. The breadth or narrowness of the group can range from a whole society to a set of coworkers in a particular enterprise (such as one collective farm). In the latter (narrower) sense the term is distinguished from common ownership and the commons, which implies open-access, the holding of assets in common, and the negation of ownership as such.
Collective ownership of the means of production is the defining characteristic of socialism, where “collective ownership” can refer to society-wide ownership or to cooperative ownership by an organization’s members. It more commonly refers to group ownership (such as a producer cooperative) as contrasted with public ownership.
- ^Oxford Dictionaries. “collective ownership”. Oxford Dictionaries. Retrieved 26 January 2016.
- ^Gregory and Stuart, Paul and Robert (February 28, 2013). The Global Economy and its Economic Systems. South-Western College Pub. p. 30. ISBN 978-1285055350. There are three broad forms of property ownership – private, public, and collective (cooperative). Under private ownership, the three ownership rights ultimately belong to individuals, subject to limitations of disposition, use, and earnings. Under public ownership, these rights belong to the state. With collective ownership, property rights belong to the members of the collective.
- ^Rosser, Mariana V. and J Barkley Jr. (July 23, 2003). Comparative Economics in a Transforming World Economy. MIT Press. p. 53. ISBN 978-0262182348. Socialism is an economic system characterized by state or collective ownership of the means of production, land, and capital.
- ^Gregory and Stuart, Paul and Robert (February 28, 2013). The Global Economy and its Economic Systems. South-Western College Pub. p. 30. ISBN 978-1285055350. According to these definitions, socialism can be a theoretical or political idea that advocates a particular way of organizing economic and political life. It can be an actual economic system in which the state owns and controls resources, or it can be a system of collective or group ownership of property.
Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder of TBIL.co STATX Fund.