Public Property Vs Private Property

(Economic) In any kind of economy, it is the factors of production that hold all the control, which include land, labor, capital, and entrepreneurship. In capitalism, most of these means of production, like the capital, are kept private. This means that rather than the government owning a specific business, individuals own it. Another way of putting this is that capitalism is a free market-based economy. The company itself decides what goods and services to provide and how they are going to sell them. Their goal is to make a profit for themselves and then recirculate it into the economy to promote economic growth. The positive thing about capitalism is that it encourages efficiency in firms because workers are enticed to work harder and faster …show more content…
Private property, which is supported mainly by capitalists, is when an individual or business owns their own property. This property can include land, factories, personal items, or anything else that is considered a “non-governmental legal entity.” The point of this is to allow anyone the chance to earn, and maintain a property. This is one of the biggest incentives to work hard and work your way up so that you can receive this valuable reward. Knowing that something will always be yours, offers security for the future for you and/or your family. In terms of a business, the incentives work the same way. A start up company can expand and grow and everything that that company earns will stay within the company rather than going elsewhere. From a different perspective, socialists keep private property and public property completely separate. Private property only includes houses and personal belongings, like clothing or other things an individual owns. The rest of it would be considered public property. Public property is owned by the state government and is public for anyone to use. Examples of this would be places like libraries, roads, and national parks. But also with housing, socialists believe that public housing should also be provided. This would make the cost of living a little more affordable but also could make the quality worse and the …show more content…
Socialists believe that the existing conflict of interests between capital and the working class leads to the unequal distribution of human resources, which, in its turn, results in the emergence of contradictory interest groups aimed at influencing government and economy in their favor. On the contrary, capitalists stand for increasing profit and satisfying people 's needs, and believe that government should be taken out of the