Pertaining to the regulation of household concerns; as the economic art.
H.H. Hoppe, 'A theory of socialism and capitalism, Economics, politics, and ethics', LvM Institute: 2007.
'Declaring everybody a co-owner of everything solves the problem of differences in ownership only nominally. It does not solve the real underlying problem: differences in the power to control. In an economy based on private ownership, the owner determines what should be done with the means of production. In a socialized economy this can no longer happen, as there is no such owner.
'In capitalism there must be somebody who controls, and others who do not, and hence real differences among people exist, but the issue of whose opinion prevails is resolved by original appropriation and contract.