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Property

In: Aristotle’s Economics

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Anticipating Hobbes, Locke and Burke, Aristotle came to the defence of private property. Whereas property in common would be susceptible to the free-rider problem, private holdings would be well maintained. Property made philanthropy possible. It was familiar. It had stood the test of time. It satisfied the differentiation of taste. Some assets should be state-owned in order to generate public finance. Since rights are not natural but social, it would be acceptable for the government to trim holdings as Plato had recommended in the Laws. Aristotle noted the possibility of state-led levelling down but did not recommend its early adoption. Compulsion is never a good thing even if the alternative is continuing divergence from the middle ground. A compromise option would be for wealth to be retained but not to be put on display.

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  • ., 2024. "Property," Chapters, in: Aristotle’s Economics, chapter 4, pages 46-53, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:22488_4
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    File URL: https://www.elgaronline.com/doi/10.4337/9781035315444.00007
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