Private Property: Difference between revisions
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'''= Private Property is both excludable and rival. Private property access, use, exclusion and management are controlled by the private owner'''." [http://en.wikipedia.or/wiki/Property_rights_%28economics%29] | '''= Private Property is both excludable and rival. Private property access, use, exclusion and management are controlled by the private owner'''." [http://en.wikipedia.or/wiki/Property_rights_%28economics%29] | ||
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(iii) the right to transfer or sell the property or resource to any one as he sees fit." | (iii) the right to transfer or sell the property or resource to any one as he sees fit." | ||
(http://opensource.mit.edu/papers/chiao.pdf) | (http://opensource.mit.edu/papers/chiao.pdf) | ||
=Discussion= | |||
==Private property can never be absolute== | |||
Donald P. Goodman III, expressing the social doctrine of the Catholic Church: | |||
"The first is among the most important, the most basic, and the most hateful to a capitalistic mind: private property is not subject to the sole and absolute control of its owner. Indeed, while ownership of property is certainly a right in all civilized states, use of private property is subject to just state and community regulation.34 For this reason, Leo XIII taught that “the individual and the family should be permitted to retain their freedom of action, so far as this is possible without jeopardizing the common good and without injuring anyone”35; clearly, if it does jeopardize the common good, their freedom of action with their property should be properly limited. And further, the great pope taught that the state cannot forbid private ownership, but it can “control its exercise and bring it into conformity with the commonweal.” | |||
(http://distributistreview.com/mag/2010/07/individualism-and-the-state-part-ii/) | |||
[[Category:Peerproperty]] | [[Category:Peerproperty]] | ||
Revision as of 07:11, 7 September 2011
= Private Property is both excludable and rival. Private property access, use, exclusion and management are controlled by the private owner." [1]
Definition
Steven N. S. Cheung:
"Any productive resource is a private property if, within well-defined limits, its owner has:
(i) the right to exclude others so that he alone may decide on its use;
(ii) the right to extract exclusive income from its use; and
(iii) the right to transfer or sell the property or resource to any one as he sees fit." (http://opensource.mit.edu/papers/chiao.pdf)
Discussion
Private property can never be absolute
Donald P. Goodman III, expressing the social doctrine of the Catholic Church:
"The first is among the most important, the most basic, and the most hateful to a capitalistic mind: private property is not subject to the sole and absolute control of its owner. Indeed, while ownership of property is certainly a right in all civilized states, use of private property is subject to just state and community regulation.34 For this reason, Leo XIII taught that “the individual and the family should be permitted to retain their freedom of action, so far as this is possible without jeopardizing the common good and without injuring anyone”35; clearly, if it does jeopardize the common good, their freedom of action with their property should be properly limited. And further, the great pope taught that the state cannot forbid private ownership, but it can “control its exercise and bring it into conformity with the commonweal.” (http://distributistreview.com/mag/2010/07/individualism-and-the-state-part-ii/)