Property could be defined as that which a man possesses with which he can rightfully use and derive benefit. Understanding the philosophies of economy requires a comprehension of the forms of property. These can be classified in many ways. One distinction is between innate and acquired property. Innate property, which is supplied by nature as the productiveness provided by bodily strength and mental prowess, is inarguably each man’s right to control. To violate this natural law is to legally transfer the control of a man’s labor power to a master, thereby rendering this person a slave. Acquired property is composed of all commodities external to oneself. Unlike innate labor power, nature does not disseminate acquired property rights. In his Second Treatise of Civil Government, John Locke establishes the right to control acquired property as an extension of the natural right to innate property. That which is given to all men in common and appropriated through the use of one’s own labor falls within a man’s right to control. Beyond this, the right to control continues to gift, inheritance, or that which is obtained through the productive use of property a man already owns. Here it is useful to delineate the types of productive property. Within this threefold classification, the first two comprise what is called “capital,” and the third is collectively called “labor.” Capital consists of property in natural resources and instruments of production. Natural resources includes raw materials reclaimed from mineral land or the sea, agricultural land, and sources of power in nature including domesticated animals. Instruments of production includes processed materials which form tools and machines. For the future it is important to emphasize that automated machines are included here. Labor includes all types of human labor power, whether innate or another man’s labor used as a factor productive of wealth. The final distinction is one of private and public property. Private property is that which is owned by the individual, family, or private corporation. Public property is that which is owned by the State and controlled by its agents. There is also the opposite of property, which is the commons, in which nobody holds ownership or the right to control exclusively. A deeper comprehension of the intricacies of the economic philosophies of human society can be gathered once the forms of property are distinguished and understood.
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For more information on economic philosophy, such as the mass distribution of wealth, please visit Jared B. Hobbs at his blog Meditations and become a Scholar of Consciousness!
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