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:
“Justice is conscience, not a personal conscience but the conscience of the whole of humanity. Those who clearly recognize the voice of their own conscience usually recognize also the voice of justice.”
—Alexander Solzhenitsyn (b. 1918)
“No man is by nature the property of another. The defendant is, therefore, by nature free.”
—Samuel Johnson (1709–1784)
“Senta: These boats, sir, what are they for?
Hamar: They are solar boats for Pharaoh to use after his death. They’re the means by which Pharaoh will journey across the skies with the sun, with the god Horus. Each day they will sail from east to west, and each night Pharaoh will return to the east by the river which runs underneath the earth.”
—William Faulkner (1897–1962)
“I really know nothing more criminal, more mean, and more ridiculous than lying. It is the production either of malice, cowardice, or vanity; and generally misses of its aim in every one of these views; for lies are always detected, sooner or later.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)