Private Property or Absentee Ownership is a situation where one person has the right to exclude another from a physical space or goods without directly using or occupying that space, and is part of the basis of capitalism.
Critcisms
See Also: The Tragedy of the Anticommons
- Private Property tends to lead to lower economic efficiency and worker happiness that what could be achieved via workers' self-management.
- Private Property tends to lead to worse ecological outcomes than what can be achieved via the commons.
- Private Property was established through a massive wave of historical violence in the form of enclosure and colonialism.
- Private Property naturally tends to create inequalities that can lead to authoritarianism.