The Isle of Eigg and the Possibilities of Building a New Economy
Phoenix666 writes:
In 1997, the inhabitants of the tiny Hebridean Isle of Eigg finally succeeded in taking collective control of their island. Tensions had been running high for years: everything from the islanders' homes to their jobs to their electricity supply depended on the whims of the wealthy businessman who owned it. Sick of putting up with crumbling buildings while he took rich friends for picnics and jaunts in his Rolls Royce, they launched what today would be called a crowdfunder, and eventually raised enough money to buy him out.
[...] Today, Eigg is thriving. A community housing association has refurbished the islanders' homes and made rents more affordable. The island is 95 percent powered by community-owned renewables, giving islanders 24-hour electricity for the first time. The landscape, previously scarred by damaging spruce tree plantations, has been restored. There is even a community-owned broadband network. Decisions about the island's future are made democratically by the trust that owns it on behalf of all who live there.
Can collective ownership work in the rest of the UK?
Read more of this story at SoylentNews.