Consumers' Freedom of Choice

TLDR: In fact, although property rights have tended to restrict the rights of non-owners, they have never been absolute as mentioned in this paper, while the ancient Hebrews were required by the Tenth Commandment to recognize property rights, they were also enjoined to share their wealth by giving to the poor, by making free loans to the needy, and by granting debtors relief from permanent debt.

Abstract: Consumers' opportunities for making free choices began expanding in antiquity when barter gave way to a single commodity used as a common medium of exchange. Later coinage was developed to improve the iden? tity of money. Then mere titles to commodity money began to supplant coins, as credit extended purchasing power from those who already had money to those who could acquire it in the future. With each step in this evolution of money, trade increased and greater quantities and varieties of consumer goods became available. Property has also contributed to consumers' freedom of choice since ancient times by safeguarding the owner's right to use or dispose of what he possessed as he pleased. Although property rights have tended to restrict the rights of non-owners, they have never been absolute. For example, while the ancient Hebrews were required by the Tenth Commandment to recognize property rights, they were also enjoined to share their wealth by giving to the poor, by making free loans to the needy, and by granting debtors relief from permanent debt. Aristotle noted the extent to which property owners in Ancient Greece placed goods at the disposal of friends and shared their use with others. British Economist, Edwin Cannan, referred to limitations on property when he wrote: "A man's intelligent pursuit of his own interest gen? erally serves others besides himself simply because the institutions of society provide hedges which are generally close enough to keep him on the road."1 Down through the ages wars have disrupted trade and restricted consumer choices; yet, the trend of consumers' freedom of choice has continued upward. This is due to improvements in transportation facil? itating trade, application of power to new and better tools bringing 62