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Supporters of property rights argue that this enables better protection of scarce sources, as a result of tragedy of the commons , whereas critics argue that it results in the ‘exploitation’ of these assets for personal gain and that it hinders benefiting from potential community effects These arguments have differing validity for several types of “property”â€”issues that aren’t scarce are, as an illustration, not subject to the tragedy of the commons Some apparent critics advocate basic collective possession somewhat than ownerlessness.
Socialism ‘s basic ideas middle on a critique of this idea, stating (amongst different issues) that the cost of defending property exceeds the returns from private property possession, and that, even when property rights encourage their holders to develop their property or generate wealth, they achieve this only for their very own benefit, which can not coincide with profit to different folks or to society at massive.
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