When Marx talks about exchange value, he is referring about the value one places on a commodity. The concept of exchange value is very different to the concept of use value, the use value is “the object of the satisfaction of any system whatever of human needs” (Gundrisse: pp.881). Exchange value goes a lot further than that: in this case, something with a use value becomes transformed into a commodity, which is ultimately a social product. Therefore exchange value manifests itself as something totally independent from use value. The ‘value’ of an object changes in terms of how much it costs, and what intrinsic value it bestows upon a person eg status. A person thus no longer purchases an object that is only useful to them, but it has a value attached to it that goes further than the mere gratification of mans so called basic needs. An example of this is clothing. People no longer buy
When Marx talks about exchange value, he is referring about the value one places on a commodity. The concept of exchange value is very different to the concept of use value, the use value is “the object of the satisfaction of any system whatever of human needs” (Gundrisse: pp.881). Exchange value goes a lot further than that: in this case, something with a use value becomes transformed into a commodity, which is ultimately a social product. Therefore exchange value manifests itself as something totally independent from use value. The ‘value’ of an object changes in terms of how much it costs, and what intrinsic value it bestows upon a person eg status. A person thus no longer purchases an object that is only useful to them, but it has a value attached to it that goes further than the mere gratification of mans so called basic needs. An example of this is clothing. People no longer buy