Private property gives birth to the following evil consequences.
(i) Greed for Property:
Private property makes man greedy. He wants to earn more and mi money by any means. He does not care even for morality. Private property thus leads torn degeneration also.
(ii) Destruction of Human Values:
In a private property system, everything is measured in terms of money. All values of human life such as love, sympathy, benevolence and affection evaluated in terms of silver coins. Every person wants to get the maximum. The sole criterion property not value
(iii) Basis of Capitalism:
The institution of private property is the basis of capitalism. In capitalism every person has the right to earn and maintain property. The right to property is considered sacred. Capitalism is injurious to both the individual and society.
Private property is a source of inequality. It creates wide gap between and have-nots. The ownership of private property gives power to direct the lives of those have no property. The propertied class gets control to the political machinery and uses it personal advantage. Their interests clash with the best interests of the community. In as system, based on private property the property less man has no social value or rights.
(v) Economically Inadequate:
The system of private property is economically inadequate b it fails to distribute the wealth it creates as to offer the necessary conditions of heal security to those who live by its processes. It has lost the allegiance of the vast majority people. It is regarded with hate and indifference by them much of the private property is a by a person without doing any socially useful work. A number of property owners are abs* owners. They get paid for simply owning the productive instruments rather than fordoing kind of work.