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:
“Nothing strengthens the judgment and quickens the conscience like individual responsibility. Nothing adds such dignity to character as the recognition of one’s self-sovereignty; the right to an equal place, everywhere conceded—a place earned by personal merit, not an artificial attainment by inheritance, wealth, family and position.”
—Elizabeth Cady Stanton (1815–1902)
“The awareness of the all-surpassing importance of social groups is now general property in America.”
—Johan Huizinga (1872–1945)
“The aim of poetry, it appears, is to fill the mind with lofty thoughts—not to give it joy, but to give it a grand and somewhat gaudy sense of virtue. The essay is a weapon against the degenerate tendencies of the age. The novel, properly conceived, is a means of uplifting the spirit; its aim is to inspire, not merely to satisfy the low curiosity of man in man.”
—H.L. (Henry Lewis)
“Just as modern mass production requires the standardization of commodities, so the social process requires standardization of man, and this standardization is called equality.”
—Erich Fromm (1900–1980)