Question

Contrast and compare Plato, Aristotle, and St. Thomas Aquinas on the desirability of private property.

My subject is the History of Economics.

Answer 1

Plato believed that private property should not be held by the ruling class, philosophers and the soldiers. That they should instead hold communal land which belongs to the entire community in order to avoid conflicts which may emerge due to private property. So that attention is instead on important matters and not on solving disputes over land. He focused on removing discontent as much as possible and wanted communism in land among the rulers of the state. Later on however, he did support private property as communism was not working. Increase in land holdings was not allowed.

Aristotle on the other hand completely supported that private property being held by anyone was acceptable and that there should be no limits placed on the ownership of private property. Instead anyone can hold any number of private properties. As an individual was assured a return based on his/hers hard work via means of private ownership.

Aquinas was also in line with holding private property and that it should be regulated by the state and he propounded even an unequal distribution of private property. Meaning that some people can hold as much private property as possible, while others holding less is okay. However, he believed that private property was not the ideal choice for people with deep religious commitments and instead they should be in communal living.