Liggio, Leonard P.; Chafuen, Alejandro A. --- "Cultural and Religious Foundations of Private Property" [2004] ELECD 98; in Colombatto, Enrico (ed), "The Elgar Companion to the Economics of Property Rights" (Edward Elgar Publishing, 2004)

Book Title: The Elgar Companion to the Economics of Property Rights

Editor(s): Colombatto, Enrico

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781840649949

Section: Chapter 1

Section Title: Cultural and Religious Foundations of Private Property

Author(s): Liggio, Leonard P.; Chafuen, Alejandro A.

Number of pages: 45

Extract:

1 Cultural and religious foundations of private
property
Leonard P. Liggio and Alejandro A. Chafuen


Fashion, discipline, and education, have put eminent differences in the ages of
several countries, and made one generation much differ from another in arts and
sciences. But truth is always the same; time alters it not, nor is it better or worse
for being of ancient or modern tradition. (John Locke [1697] 1802, Section 24,
p. 79)

Introduction
Private property is both a notion and a reality, which has concrete existence.
In many different cultures, and from many different religious perspectives,
people have analysed, justified and recommended different degrees of respect
for appropriation. The economic arguments in favour of private property are
important. Most economists agree that economics is a value-free science.
Valuing property falls outside economic science. In order for private property
to become a reality it will need more: it will need to be embodied in a rule of
law, a culture that respects it, or at least leaders who value and are ready to
implement it.
Although we acknowledge that actions are at least as relevant as words to
understand the institution of private property, in this chapter we shall focus
on the role of ideas. This is an essay on the history of ideas placed in a
historical context of Western civilization.
While economists might have credibility when arguing from a cost­benefit
perspective, moralists have a much higher degree of authority when arguing
about values. In recent surveys, religious ...