Private property

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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[1].

References