Personal Property Versus The Means of Production
In general, personal property is almost an extension of one's person and does include property from which one has the right to exclude others. Personal property is different to private property, however, in that it refers to things that are personal: objects with which one has a personal connection, making them important to one person while potentially worthless to the next. These objects can range from CDs to houses, depending on one's perspective, but definitions tend to include personal items such as clothing, books, food, or records.
From the socialist perspective, private property refers to capital or means of production that is owned by a business or few individuals and operated for their profit. Personal property refers to tangible items and possessions individuals own, as mentioned above. Socialism does not advocate the abolition of personal property, believing that it is an acceptable form of ownership of an item, unlike private property.
From the Marxist perspective, which is very similar to the socialist perspective, private property is a social relationship, not (as with personal property) a relationship between person and thing. It also describes personal property, as above, as those objects which are personal, or an extension of one's self. The Marxist perspective also does not advocate the abolition of personal property: it believes that it is only private property that should be done away with.
In capitalism there is little distinction between personal and private property.
Read more about this topic: Private Property
Famous quotes containing the words personal, property, means and/or production:
“Personality and mind, like moustaches, belong to a certain age. They are a deformity in a child.... Leave his sensibilities, his emotions, his spirit, and his mind severely alone. There is the devil in mothers, that they must provoke personal ... response from their infants.”
—D.H. (David Herbert)
“The rights and interests of the laboring man will be protected and cared for, not by the labor agitators, but by the Christian men to whom God in His infinite wisdom has given control of the property interests of the country.”
—George Baer (1842–1914)
“Then is it scentless, weightless, strengthless, wholly
Untruthful? Try whispering it slowly.
No, it means you. Or, since you’re past and gone,
It means what we feel now about you then:
How beautiful you were, and near, and young....”
—Philip Larkin (1922–1986)
“The production of too many useful things results in too many useless people.”
—Karl Marx (1818–1883)