Personal Versus Private Property
In political/economic theory, notably socialist (including anarchist) philosophies, the distinction between private and personal property is extremely important. Which items of property constitute which is open to debate.
- Personal property is part of your person and includes property from which you have the right to exclude others (e.g., televisions, cars, clothes, etc.)
- Private property is a social relationship, not a relationship between person and thing according to Marx (e.g., factories, mines, dams, infrastructure, etc.). In capitalism there is no distinction between personal and private property.
- To many socialists, the term private property refers to capital or the means of production, while personal property refers to consumer and non-capital goods and services.
Read more about this topic: Personal Property
Famous quotes containing the words personal, private and/or property:
“The personal touch between the people and the man to whom they temporarily delegated power of course conduces to a better understanding between them. Moreover, I ought not to omit to mention as a useful result of my journeying that I am to visit a great many expositions and fairs, and that the curiosity to see the President will certainly increase the box receipts and tend to rescue many commendable enterprises from financial disaster.”
—William Howard Taft (1857–1930)
“There is no private house in which people can enjoy themselves so well as at a capital tavern.... No, Sir; there is nothing which has yet been contrived by man by which so much happiness is produced as by a good tavern or inn.”
—Samuel Johnson (1709–1784)
“The diversity in the faculties of men, from which the rights of property originate, is not less an insuperable obstacle to a uniformity of interests. The protection of these faculties is the first object of government.”
—James Madison (1751–1836)