Property

Physical property in law, economics, business and for tax purposes is an extension of, or store of, the produce of unconsumed labor. Private property, i.e. non-public or non-governmentally owned property, is a foundation of Anglo-American law, and central to capitalism and free enterprise.

Property is, and the Supreme Court has held, an extension of a person's labor. The value of a person's labor is stored up in property. Much labor is consumed in the process of labor, or disappears in the instant of its production. Property, other than land, is unconsumed labor stored up ("value added") in an improvement or vendible commodity. In the normal functioning of the economic system, the worker sells their labor, using the unconsumed produce of other people's labor (Marxists call this "the means of production") for which they are paid in money and relinquish any future claims over the value added produce of their labor.

Property gain be acquired either through employment or inheritance.

Property rights

Property rights refers to issues surrounding the ownership of property or capital. In Marxist theory, individual property rights are abrogated and theft legalized. This is a violation of fundamental human rights.

Title

Legal title to property grants the owner certain enforceable rights.

Types of property

"Real property" is land; manufactured goods, buildings, tangible property, intangible property such as intellectual property is the produce of labor that is consumed slowly, or depreciates over time. Unconsumed labor is often referred to as "capital," which then is used to set the economic process in motion and employ more people.

Money as a form of property

Money, a form of property, is a representation of unconsumed labor for exchangeable purposes.

Modern issues

In modern times there is universal condemnation of treating human beings as property, though only abortion and stem cell research implicitly treat human life as though it were property.

Foreign ownership

Thailand

In Thailand, foreigners are not allowed to own land. This law is from long ago, and made because the King then wanted to keep culture how it was. Today, foreigners can own property by getting around law, like creating companies or owning land through a straw-man.

Other types

Property in philosophy or theology is an attribute of something that does not consist of its essence, but follows from its essence.