Sec. 9. #The monetary economy#.  So greatly does the use of money facilitate the transfer, buying, and selling of private property and so closely are property and pecuniary trade connected in practice and in the thoughts of men, that every radical proposal to abolish private property has included a plan to do away with money also.  But money and private property are not essentially and logically bound up together, for a certain measure of private property always has been found where money was little or not at all used.  True, if there were absolutely no private property, there would be little use for money, altho it might still be used as a form of counter by the communistic state.  We have already seen[5] how a monetary unit comes into use, and we shall treat more fully of the nature of money in later chapters.  We may note here merely that the use of money is an outstanding feature of the present economic system and gives rise to many of the problems of political economy.

Sec. 10. #The competitive system#.  The existing system is likewise characterized by competition[6] in the buying and selling of wealth and of the usances and services of economic agents.  By competition we mean here the condition of political freedom on the part of each man to trade his property (goods, uses, or services) as he chooses, and this combined with the disposition on his part to get what he values most highly for himself and his family.  Whenever any one else (official or citizen) forbids and prevents a man from getting all he can, in so far competition is limited.  Whenever any one is deterred by fear of, or by affection for, some other trader, from getting all he can, in so far competition is limited.  Whenever any one conspires with another trader to act together with him to withdraw or to alter his bid, in so far competition is limited.  Private property and economic competition do not merely happen to exist side by side, forming more or less favored conditions each for the other; they are essentially connected.[7]

It is not our task at this point to present the advantages and disadvantages of competition, but merely to indicate its important place in the actual economic world.  Like private property, competition is not the universal feature of our present system, but it is the most general and characteristic method of valuation, of price fixing, and of trade.

Sec. 11. #Limitation of competition by custom.#[8] The relatively large influence of competition in present society appears more plainly in comparing the present system with that of an earlier state of society or with that of a present savage tribe.  A member of the lowest human societies is subject to law; tho he is a savage he is not “untutored.”  On the contrary he is bound in many ways to follow customary lines of conduct, and a large part of his time is given to learning the traditions and then to observing the ceremonials of the tribe.  Primitive customs always take on a religious sanction, and every