Aristotle defended the notion of private property by claiming that by giving the citizen the right to private property, the citizen is incentivized to continue to produce in pursuit of more private property. Private property is highly productive and will therefore lead to progress. He argues that goods owned commonly by a large group of people are prone to neglect. This is thought to be the result of the individual being self interested. The selfish nature of the individual would cause them to attempt to pass of all possible responsibility and duties to others in the community. In contrast, people will devote the greatest interest and care to their own property.
Although Aristotle seemed to detest moneymaking, he had set forth a argument in favor of private property. Aristotle delivers a logical rebuttal to Plato’s communism of the ruling class. He attempts to refute Plato’s perfect unity of the state through communism by pointing out that such extreme unity proves fatal to the reciprocal advantage that everyone reaps through trade.