section_path: Philosophy/Government/Accumulation of wealth
section_name: Accumulation of wealth
paragraph_text: Accumulation of wealth
  
  According to Locke, unused property is wasteful and an offence against nature, but, with the introduction of "durable" goods, men could exchange their excessive perishable goods for those which would last longer and thus not offend the natural law. In his view, the introduction of money marked the culmination of this process, making possible the unlimited accumulation of property without causing waste through spoilage. He also includes gold or silver as money because they may be "hoarded up without injury to anyone", as they do not spoil or decay in the hands of the possessor. In his view, the introduction of money eliminates limits to accumulation. Locke stresses that inequality has come about by tacit agreement on the use of money, not by the social contract establishing civil society or the law of land regulating property. Locke was aware of a problem posed by unlimited accumulation, but did not consider it his task. He just implies that government would function to moderate the conflict between the unlimited accumulation of property and a more nearly equal distribution of wealth; he does not identify which principles that government should apply to solve this problem. However, not all elements of his thought form a consistent whole. For example, the labour theory of value in the Two Treatises of Government stands side by side with the demand-and-supply theory of value developed in a letter he wrote titled Some Considerations on the Consequences of the Lowering of Interest and the Raising of the Value of Money. Moreover, Locke anchors property in labour but, in the end, upholds unlimited accumulation of wealth.