What Is Property and Equity?
Proptety is a Greek word which means prosperity, success or well being. It is an essential element of many Greek philosophical theories including karma and reincarnation. Propety was introduced into the modern world when Sir Alfred Lord Tennyson made the suggestion, “Some things are so much better than all things”. This concept has had profound effects on the fields of business, science and religion and in particular the study of finance. The modern definition of propety as a measure of wealth, personal success or equity has become a core concept of many definitions of wealth in modern society.
The three most widely accepted modern definitions of propety are defined as the possession of some inherent, measurable quality, right or privilege, without regard to others. In contemporary society the three factors propety is often associated with include social position, financial gain and personal responsibility. The three factors propety most often considered as being equal are the definition of equity, fair price and property ownership.
Equity is the value of one’s individual or family real property. Fair price is the value of a person’s personal property, whether this property will generate an income for its owner in the future. Property ownership can be thought of as a right or privilege and is therefore a form of propety. Property rights can also be seen as representative of the expression of equity. This is why there are so many arguments over the definition of property rights. Some people believe that property is absolute whereas others believe that some forms of property are limited in what can be done to them by others.
Another factor that propety relates to is the concept of time. Time can be thought of as having three distinct forms. These forms are personal time, abstract time and social time. By using the term equity you are referring to the value that you create in each of these forms and represents your relative position in the social order. This can be measured in terms of your age, height, wealth and personal influence.
The definition of equity as it relates to property is still true because equity and the value of it are equal. Equity however is not equivalent to wealth since the two are two different concepts. Wealth can be thought of as the accumulation of value while equity is a relation between people that is actually measured in terms of their relative relationship to others. There is no such thing as an absolute wealth value. Thus, when discussing the definition of equity in the context of propety, you should keep this in mind because it can still apply even if wealth and value are not considered.
Propety theory, like most theories, are subject to constant criticism. One criticism that is of particular relevance in the context of propety theory is that it tends to provide a rather narrow definition of equity. Because all property is considered as equity, it can be used to describe anything that has anything to do with equity. However, this definition leaves out many concepts that are important to understanding the concepts behind the theory. Therefore, it is important to include a wide range of definitions that relate to property in order to make clear the meaning of other concepts within the wider field of propety theory.