Title: James Meade, public ownership, and the idea of a citizens' trust

Authors: Martin O'Neill; Stuart White

Addresses: Department of Philosophy, University of York, York YO10 5DD, UK ' Department of Politics and International Relations, Oxford University, UK; Jesus College, Oxford, OX1 3DW, UK

Abstract: James Meade argued that public ownership of productive assets should have a central role in a 'liberal socialist' economy. While somewhat sceptical of the state seeking to run specific firms or industries, Meade argued that the state should own a significant share of a society's productive assets, using the return on the assets to promote a more equal distribution of income (e.g., through payment of a universal social dividend). This paper traces the development of Meade's thinking around this citizens' trust concept; explores its influence in UK policy discussions; and makes the case for the continuing relevance of the proposal in response to contemporary economic developments.

Keywords: public ownership; social wealth fund; sovereign wealth fund; socialism; liberalism; inequality; Meade; Rawls; ownership; justice.

DOI: 10.1504/IJPP.2019.099052

International Journal of Public Policy, 2019 Vol.15 No.1/2, pp.21 - 37

Published online: 12 Apr 2019 *

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