Originally Posted by
shikamaru
I got the idea from the Greeks, Romans, as well as kings, popes, emperors, and princes.
In Greece, engaging in commerce by citizens was greatly frowned upon and even outlawed at one point.
In Rome, a citizen engaging in commerce was frowned upon.
Royalty and nobility do not engage in specific professions or work.
In England, the purse of the royal house and the nation was one with the royal household taking precedence. In time, this purse became two with the King having his own personal assets (private) along with the nation having its own (public).
The public private model is binary with a public side and private side with strict demarcation between the two in addition to well defined interfaces between the two. The private side focuses on Common Law while the public side focuses on Lex Mercatoria.
The public side is for engaging in public commerce while the private side focuses on approximating absolute ownership.
To give an example, most people own some form of stocks, bonds, or mutual funds. In my public/private model, a person would never hold these commercial papers in their own name. These would be held in a corporation. Let the corporation own it while also paying the taxes. You receive income from the corporation. The private side wealth is measured in gold, silver, food, fuel, and other stuff. The private side person has no registered property, no liens, no insurance, no ID, etc.
Public side has assets. Private side has property. Public side is engaged "at arm's length" by an individual.
The public side through a corporation or trust is the interface for the individual acting in the capacity of an officer of that corporation or trust.
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