I like this thinking from a moral perspective, but in practice how do you recon the trustees of this common wealth will not be captured by the industries they are meant to extract rent from?
Just like politicians the trustees are a group granted the special privilege of making decisions on our behalf: Setting the price of rent for the common wealth.
Why should these not be corrupted as politicians are?
How, if trustees have a monopoly on setting the rent of a certain geographical area, can there be a ‘market price’ if there is no competition? would this not be just like another political group setting a Pigou tax on land?