The right to property means the right to earn income or profits from land, shops, factories or other means of production. It implies the right tounhampered use of one’s income and wealth, land and goods, the right to destroy or sell them, or alienate them, the right to exchange them and the right to bequeath them. In modem times, this right has been subjected to much criticism. Communists and to a lesser extent many types of socialists have opposed it.
They assert that this right creates inequality, encourages indolence, parasitism and exploitation of man by man. On the other hand, the advocates of private property assert that it creates incentive to work, engenders such virtues as generosity, because there are poor persons to give alms and charity, and also love of one’s family, patriotism, etc. It develops personality because it causes struggle for existence which results in the survival of the fittest.
But its opponents point out that it creates such moral vices as selfishness, greed, private gain and stunts the character and personality of the poor. The right to property is also not an unlimited right. Every State imposes certain restrictions on its enjoyment. For instance, in times of emergency or national need, the State can confiscate the private property of its citizens. It also interferes with property rights by such powers as the eminent domain, and in emergencies by martial law.