Principle of common property
In economics, the principle of common property describes a situation in which the means of production are socialized, i.e. all private ownership of means of production is abolished.
Economic orders
Market economy
In market economies , the principle of common ownership is a constitutive feature of public companies and administrations, alongside the organ principle and the principle of public utility .
Central administration economy
In centrally planned economies , the principle of common property will be instead generally against all companies. According to Erich Gutenberg, in addition to the organ principle and the principle of central plan fulfillment, it is a constitutive feature of public companies and administrations of a decentralized system. The principle of common ownership is of particular importance in central administration economies, as the social entitlement to participation can be derived from it.