Editing Private property

'''Private property''', not to be confused with individual property or [[personal property]], describes a labor relationship to the [[means of production]]. As a concept, private ownership of property can exist only in the specific context of a political system which defines how it exists and how it can be used.

Under [[capitalism]], a right to private property is not based on one’s own labor (as in one form of individual property) but appropriation of the products of the labor of others.<ref>https://www.jstor.org/stable/10.1163/j.ctt1w8h23p.19</ref> [[Marxism]] seeks to abolish the private property of the [[bourgeoisie]]; however, it does not need to abolish the property of small [[Peasantry|peasants]] and artisans because the bourgeoisie is already expropriating them and turning them into [[Proletariat|proletarians]].<ref>{{Citation|author=[[Karl Marx]], [[Friedrich Engels]]|year=1848|title=Communist Manifesto|mia=https://www.marxists.org/archive/marx/works/1847/11/prin-com.htm|chapter=Proletarians and Communists|chapter-url=https://www.marxists.org/archive/marx/works/1848/communist-manifesto/ch02.htm}}</ref>

== History ==
Bourgeois private property developed at the end of [[feudalism]] when feudal and [[guild]] labor reached their limits. A new [[Social class|class]] of industrialists developed and gradually expropriated peasants, guild members, and manufacturing workers, turning them into propertyless proletarians.

At the end of [[capitalism]], the proletariat overthrows the bourgeoisie and abolishes private property as the [[productive forces]] grow.<ref>{{Citation|author=[[Friedrich Engels]]|year=1847|title=The Principles of Communism|mia=https://www.marxists.org/archive/marx/works/1847/11/prin-com.htm}}</ref>

== References ==
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[[Category:Economic concepts]]