Property Rights and the Economic System

One of the basics of real estate law is real property. What is real property? Real property is simply the real estate. The real property is used interchangeably with real estate.

The concept of property has long been one of the most crucial aspects for the U.S. citizens, as it is a major part of the Constitutional, and, therefore, human rights. Although the perception and understanding of “property” have been considerably changed, especially in terms of political and philosophical vision, it still has a particular meaning for the Americans. In general, the idea of property is the question of the political thought and conceptualized thinking common for the United States. In most cases, its transformations are connected to the introduction of capitalism and related governmental decision in politics. Therefore, as any other topic, the value of property has undergone harsh debates. In particular, such important figures as James Fenimore Cooper, Ralph Waldo Emerson, and Walt Whitman have developed a fundamental scope of analyses with regard to the property rights in America.

(p. 105) The property owners are often of the upper class and have control of their life situation. In contrast those who own no property are primarily of the lower-middle classes and have little control over their life situation since they must follow certain societal rules put in place by the ruling class (those with the most property/greatest economic status).

Property: The right to claim and hold property; When it has been laboured for, one encloses it for greater individual profit the profit of the community of Man, it has been laboured for – Natural means of ownership one encloses it – The process of holding legal “deed” for greater individual profit – to build investment equity and avoid poverty of waste the profit of the community of Man – Moral commitment to Human Development (Locke: 1689).

In the Second Treatise of Government by John Locke, he writes about the right to private property. In the chapter which is titled “Of Property” he tells how the right to private property originated, the role it plays in the state of nature, the limitations that are set on the rights of private property, the role the invention of money played in property rights and the role property rights play after the establishment of government.. In this chapter Locke makes significant points about private property. In this paper I will summarize his analysis of the right to private property, and I will give my opinion on some of the points Locke makes in his book. According to Locke, the right to private property originated when God gave the world to

“The distinguishing feature of Communism is not the abolition of property generally, but the abolition of bourgeois property” (The Communist Manifesto , p. 10).

Property has always played an important role in the life of an individual, community and country. The practical significance of the property lies in the fact that it enables us at least the necessities and amenities of the routine life if not the means of comfort. The property rights give the successor a way to overcome the sufferings and to fight the battle of their lives.

Human Flourishing theory of property holds that “[t]he moral foundation of property, both as a concept and as an institution, is human flourishing.” The purpose of property is to enable people a foundation to enable people to live an objectively well-lived life, therefore property decisions should be structured around this goal. Under this theory property owners owe obligations to members of their communities to perform certain duties to enable people to have necessary capabilities in order to live well-lived lives, “owners are responsible for the continued well-being of these communities which have nurtured and continue to nurture the development of their personal capabilities essential to their own flourishing.” Furthermore, the government

Subsequently, making people responsible for their own property cultivates the “Invisible Hand” demanding pressure on producers to operate efficiently by supplying the value preferences of consumers. Contrasting, Marxism’s social exclusion theory that stresses the importance of government intervention into social systems and the free-market, Gwartney et.al endorses private ownerships’ strong incentive choice in developing goods and services in ways that are beneficial to others. Consequently, by satisfying an individual’s own value egoism to prosper, the “Invisible Hand” forced by the market, produces through altruistic means. Therefore, as the foundation of economic prosperity CSE set up private property rights as value reflecting, the amount of goods produced, the market price of goods, the future actions of suppliers and consumers, and the ethical measuring of human behavior without need of outside

Assessment of the Statement that Property is a Power Relationship Between People Property is the right to possess, enjoy or use a determinant thing, and includes the right of excluding others from doing the same. The concept of ownership or property has no single or widely accepted definition. Like any other concept it has great weight in public discourse and the popular usage varies broadly. Property is frequently conceived as a 'bundle of rights and obligations.' Property is stressed as not a relationship between people and things, but a relationship between people with regard to things.

Under communism the economic decisions and property were national and publicly owned. Over the past 15 years of the transition to capitalism almost all basic

The modern definition of property is the allocation of right to valuable resources between and among entities or individuals. In Whiteness As Property, Harris stated that the origins of property rights in the United States are rooted in racial domination, specifically by whites. Cheryl Harris, Whiteness As Property, 106 Harv. L. Rev. 1707, 1715 (1992-1993). Harris states, possession - the act necessary to lay the basis for rights in property - was defined to include only the cultural practices of whites. Id. at 1721. This definition laid the foundation for the idea that whiteness - is valuable and property. Id.

All the three philosophers, whose work I am going to scrutinize on, have very specific, yet in most cases common views on property. First of all, let me define what the term property means. Property, as I see it, is an object of legal rights that is possessed by an individual or a group of individuals who are directly responsible for this it.

to the first phase as socialism and the second as communism. Consequently, it will clarify the present discussion if the term socialism is used

Marx’s model of private property views it as means of production creating a division of labor. In his theory, Marx takes a look and how private property, along with wealth, are funneled into the hands of the few leaving the ordinary worker unable to gain wealth from private property. The outcome of Marx’s principle can be seen especially in the last 30 years in the US with the increase of inequality and access to wealth to unprecedented numbers (USA 11).