What are some advantages of consumers having private property?

What are some advantages of consumers having private property?

 

 

 

Expert Answers
Lorraine Caplan eNotes educator| Certified Educator

I'm not really clear on the context in which this question is being asked, since it is listed under "Business," which presupposes a capitalistic system of some sort, I would think. If consumers do not own private property, they are far less likely to want to consume many goods and services, and they have no assets upon which they can draw if need be. If I own a house, I am more likely to buy carpeting and paint to fix it up and buy a few trees and perennials to plant. If I rent, I have no stake in the place I live, and I am not going to acquire a significant number of goods and services to improve the property. If I own a house, I build equity in it, upon which I can borrow, to remodel, to send a child to college, or to finance my senior years. It is difficult to conceptualize an economy in which there are businesses and no one is permitted to own private property.