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Social ownership is a type of property where an asset is recognized to be in the possession of society as a whole rather than individual members or groups within it. [1]
Common ownership in a hypothetical communist society is often distinguished from primitive communism, in that communist common ownership is the outcome of social and technological developments leading to post-scarcity and thus the elimination of material scarcity in society. [30]
Collective ownership is the ownership of private property by all members of a group. [1] [2] [nb 1] The breadth or narrowness of the group can range from a whole society to a set of coworkers in a particular enterprise (such as one collective farm).
Private property in the means of production is the central element of capitalism criticized by socialists. In Marxist literature, private property refers to a social relationship in which the property owner takes possession of anything that another person or group produces with that property and capitalism depends on private property. [19]
A social relation is therefore not simply identical with an interpersonal relation or an individual relation, although all these types of relations presuppose each other. A social relation refers to a common social characteristic of a group of people. Society for Marx is the sum total of social relations connecting its members.
The Roman property law was based on such a corporate system. In a well-known paper that contributed to the creation of the field of law and economics in the late 1960s, the American scholar Harold Demsetz described how the concept of property rights makes social interactions easier: In the world of Robinson Crusoe, property rights play no role ...
A property-owning democracy differs to a system of welfare-state capitalism, in which the state guarantees a social minimum but does not significantly intervene in the free market. [ 2 ] : 180 Welfare-state capitalism is based upon a redistribution of income through means tested social welfare , as opposed to a reallocation of productive ...
Property rights are constructs in economics for ... norms and values lodged in particular types of social structures and organising relatively stable patterns of ...