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In "The Communist Manifesto," Marx and Engels make the claim that private property ownership is simply a myth. The wage laborer is simply working for a small piece of land that is in reality controlled by the bourgeoisie.
This type of "ownership" is for social status and is limited. They go on to make the point that the bourgeoisie do not really work for their property and they have not been overcome with a "universal laziness" and as such the wage laborer will not become lazy simply because they cannot acquire property.
Because the people will all be equal and work together for a common good, and by eliminating private property it eliminates jealousy that drives the Bourgosie capitalist market. Economics is simple- mankind has unlimited wants, and will do what he wants to get it. If you eliminate private property, then man has nothing to aspire too, but still needs to survive.
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