Would Jesus have participated in a free market system while on earth or did he and his family consecrate everything before his ministry?
Look at Lehi, Abraham, and one of the best examples of how the Lord feels about wealth and what we are to do with it, that of Job. How does the story of Job end?
Did the story end with Job being asked to consecrate all of his wealth and live a different system? The Lord knew Job's heart his willingness. Not only did he bless him with an increase in wealth with no mention of the rules or conditions of what to do with that wealth but he also blesses him with the greatest blessing we can receive in mortality: "I have heard of thee by the hearing of the ear: but now mine eye seeth thee."Job 42:10 And the Lord turned the captivity of Job, when he prayed for his friends: also the Lord gave Job twice as much as he had before.
11 Then came there unto him all his brethren, and all his sisters, and all they that had been of his acquaintance before, and did eat bread with him in his house: and they bemoaned him, and comforted him over all the evil that the Lord had brought upon him: every man also gave him a piece of money, and every one an earring of gold.
12 So the Lord blessed the latter end of Job more than his beginning: for he had fourteen thousand sheep, and six thousand camels, and a thousand yoke of oxen, and a thousand she asses.
I truly believe the Lord wants our heart period, the test isn't about the money, its about the heart, we focus on the wrong thing. Would the rich young man had to actually give all of his wealth? Maybe, and maybe if he did he would end up like Job did in the end. Did Abraham have to actually give up his son?
What does the Book of Mormon say about accumulating wealth?
An important principle even for the wealthy. "Work is always a spiritual necessity even if, for some, it is not an economic necessity." Elder MaxwellAlma 1:
29 And now, because of the steadiness of the church they began to be exceedingly rich, having abundance of all things whatsoever they stood in need—an abundance of flocks and herds, and fatlings of every kind, and also abundance of grain, and of gold, and of silver, and of precious things, and abundance of silk and fine-twined linen, and all manner of good homely cloth.
30 And thus, in their prosperous circumstances, they did not send away any who were naked, or that were hungry, or that were athirst, or that were sick, or that had not been nourished; and they did not set their hearts upon riches; therefore they were liberal to all, both old and young, both bond and free, both male and female, whether out of the church or in the church, having no respect to persons as to those who stood in need.
31 And thus they did prosper and become far more wealthy than those who did not belong to their church.
32 For those who did not belong to their church did indulge themselves in sorceries, and in idolatry or idleness