Aristotle’s Defense of Private Property
Ownership inspires virtue, justice, and unity
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Asan institution, private property has been critical in Western society and political thought. Modern capitalists defend private property merely on the grounds of efficiency. Socialists, on the other hand, tend to critique it.
Capitalists’ defense of private property rarely extends beyond a calculation of economic benefits. Many assert simply that there is no viable alternative to individual ownership. Private property, they contend, is just the best option within a set of subpar options. This argument, with its pessimistic tone, hardly inspires much love for the concept of private ownership./.../
But throughout history, numerous thinkers have robustly defended and justified the institution of private property: Cicero of ancient Rome, Thomas Aquinas of medieval Europe, and John Locke of the early modern period. The first extensive defense of private property comes from Aristotle in the fourth century B.C., and he believed there were more reasons than efficiency alone to endorse it.
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