Capitalism

[aid632007]

A question about Capitalism my question is why is private property rights and ownership better than common ownership or collective ownership of all property or the means of production as in Socialism ? Does Collectivism deny Individualism and Individual rights and Individual private property rights is saying that everyone has ownership to my business or to a business is like saying everyone in my neighborhood has the right to wear my clothing or stay in my house or drive my car because of collective ownership ?

[low preference guy]

A question about Capitalism my question is why is private property rights and ownership better than common ownership or collective ownership of all property or the means of production as in Socialism ? Does Collectivism deny Individualism and Individual rights and Individual private property rights is saying that everyone has ownership to my business or to a business is like saying everyone in my neighborhood has the right to wear my clothing or stay in my house or drive my car because of collective ownership ?

I think this might be helpful:

http://en.wikipedia.org/wiki/Economic_calculation_problem

The existence of private property allows for the existence of a price mechanism which makes the efficient production of goods possible.

[acptulsa]

Not really.

Private ownership is better because this means someone else can set up a competitor without worrying that the whole community will rise up and shut it down. And this, in turn, is good because the companies will compete for your patronage and this will make their output better.

When I was a kid, there was one phone company in the whole nation. Ma Bell wasn't technically socialism, as stockholders (not the community at large) owned it, but it was just as monopolistic. Have you any idea at all how much better phone service is now?

The meme at the time was, 'We're the phone company. We don't care. We don't have to.' Now they have to, as if they don't you'll take your business elsewhere.