Preview

Marx's Commodity Summary

Good Essays
Open Document
Open Document
270 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Marx's Commodity Summary
Marx opens up chapter one by explaining what commodity is, “Commodity is, first of all, an external object, a thing that through its qualities satisfies human needs of any kind indirectly/directly” (Marx, 125). Useful things can be arranged into two points of view; quality and quantity. These objects have many characteristics which allow them to be used in multiple ways. The use-value pertains to the commodity's quality. Exchange-value, in essence, is when one use-value is exchanged for another use-value.
The value is a huge component of exchange-value when it comes to exchanging commodities. Marx uses the example of iron and corn in his book which he talks about can be represented by an equation in which a quantity of corn can be exchanged
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Analysis Of Marx's Social Theory By Terrell Carver
    • 536 Words
    • 3 Pages

    Analysis Of Marx's Social Theory By Terrell Carver

    The author Terrell Carver assesses the Marx’s social theory in his book (Marx’s Social Theory). This is a fascinating account of Terrell Carver about Marx’s social theory. Writer discusses the influence of Marx on almost every discipline of knowledge from aesthetics to theology, including anthropology, geography, jurisprudence, and history, almost all branches of philosophy, political science and psychology.…

    • 536 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    Compare and Contrast the Changing Experiences of Consumers from the Year 1900 Until Present Day. How Do the Theories of Marz, Durkheim and Weber Help to Explain the Changing Consumer Experience and the Emergence of Contemporary Consumer Society
    • 2230 Words
    • 9 Pages

    Compare and Contrast the Changing Experiences of Consumers from the Year 1900 Until Present Day. How Do the Theories of Marz, Durkheim and Weber Help to Explain the Changing Consumer Experience and the Emergence of Contemporary Consumer Society

    Marx presents his theories as a materialist understanding of society, explaining capitalism as an unequal system based on the exploitation of the lower class (Abercrombie N et al, 2006), a system based on surplus value being extracted, the capitalist’s…

    • 2230 Words
    • 9 Pages
    Powerful Essays
    Read More
  • Good Essays

    terms of jsis 200
    • 9460 Words
    • 15 Pages

    terms of jsis 200

    of the inherent value of the means of exchange itself. In financing the war and…

    • 9460 Words
    • 15 Pages
    Good Essays
    Read More
  • Good Essays

    Essay On Marx Smoot Tariff
    • 451 Words
    • 2 Pages

    Essay On Marx Smoot Tariff

    The Hawley-Smoot Tariff was signed into law by president Herbert Hoover and passed in 1930. It raised the United States tariffs to unreasonably high levels. Although the tariff made life hard, it did not cause the Great Depression. The Hawley-smoot Tariff became a symbol of the “beggar-thy-neighbor" policies, which were policies designed to improve a person’s own lot at the expense of others. These policies contributed to the decline of international trade. The original intent of the Act was to preserve mainly the agricultural jobs in America and protect the people from foreign agricultural imports. Calls for increased protection came in from industrial sector special interest groups, and a bill meant to provide relief for farmers became the reason to raise tariffs in all sectors of the economy. Congress had agreed to tariff levels that exceeded the high rates established by the Fordney-McCumber Act in 1922 and represented…

    • 451 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    How Did The Great Depression Affect The Economy In Black Tuesday
    • 721 Words
    • 3 Pages

    How Did The Great Depression Affect The Economy In Black Tuesday

    By expressing their confidence in continued American prosperity, government financial experts and leaders such as President Herbert Hoover gave tacit approval to the bankers' and brokers' action. But in spite of all of the optimistic speeches, both government and business leaders knew by the fll of 1929 that a crash in the market was not only possible but probable. They had been afraid that talking about it would only start panic selling sooner. However, they could not postpone the inevitable.…

    • 721 Words
    • 3 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Chapter 13 Key Takeaways
    • 981 Words
    • 4 Pages

    Chapter 13 Key Takeaways

    2. Measure of value: it simplifies the exchange process because it’s a means of indicating how much something costs.…

    • 981 Words
    • 4 Pages
    Satisfactory Essays
    Read More
  • Better Essays

    Karl Marx and Andrew Carnegie concerning their ideologies on class tensions.
    • 1802 Words
    • 5 Pages

    Karl Marx and Andrew Carnegie concerning their ideologies on class tensions.

    Throughout history competition has created bitter tension between social classes. Competition has occurred in every social structure that has existed to this day. Social structure has been the determining factor of competition: in essence the poorer classes have always tried to compete with the wealthier classes to seize their wealth and power; the greater the economical gap between the two opposing classes the fiercer the competition between them. Two highly esteemed and different people, Karl Marx and Andrew Carnegie, developed their own ideologies to resolve and ease class tension, that is, whether changes should be imposed on the structure and role of social classes. Another writer, Sam Keen illustrates the effect of competition in the extreme. Within their opposing and controversial views, there lies the more efficient social-economic resolution: a modified version of Carnegie's argument, despite the fact that it has some imperfections. The answer is determined by the acknowledgment by the powerful and the wealthy of certain responsibilities to the poorer classes. Each author feels that the competition within a capitalist society has definite effects on social structure but disagree as to what this effect is.…

    • 1802 Words
    • 5 Pages
    Better Essays
    Read More
  • Satisfactory Essays

    LeBron James Biography
    • 718 Words
    • 2 Pages

    LeBron James Biography

    LeBron Raymone James born on Dec. 30, 1984 in Akron, Ohio to Gloria James and Anthony McClelland. McClelland wasn't a part of Gloria's life leaving her to raise LeBron alone at the age of 16. Gloria James began dating Eddie Jackson when LeBron was a young child. Despite Jackson being in and out of jail for most of LeBron's youth James formed a bond with him. LeBron James has two children with Savannah Brinson, LeBron James Jr and Bryce Maximus James. James became engaged to Brinson on Dec. 31 2011. LeBron James forfeited his NCAA eligibility LeBron James than entered the 2003 Nba draft and was taking first overall in the 2003 NBA Draft by the Cleveland Cavaliers. LeBron James went to St. Vincent-St. Mary High School in Akron, Ohio. LeBron James is an eight-time NBA All-Star, three-time NBA most valuable player and in 2012 led the Miami Heat to the NBA title and winning Finals MVP winning 2003-2004 NBA Rookie of the Year. James was selected to his first NBA All-Star Game as a starter for the Eastern Conference. He was the youngest player in league history to record a triple-double. He was an All-NBA Second Team selection and the youngest player in league history to be awarded All-NBA honors. James was voted to this second straight NBA All-Star Game in 2005-06. He was selected as All-Star MVP James became the first Cavalier in franchise history to lead the league in scoring during the 2007-08 season. He won the 2008 All-Star Game MVP James was named the 2008-09 NBA MVP LeBron James became the youngest player in NBA history to win the award. Along with the MVP, James was selected to the All-NBA First Team and All-Defensive First Team.…

    • 718 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Better Essays

    Small Element, Big Difference: A comparison of Adam Smith and Karl Marx's view on labor in a capitalist society.
    • 1710 Words
    • 5 Pages

    Small Element, Big Difference: A comparison of Adam Smith and Karl Marx's view on labor in a capitalist society.

    Adam Smith and Karl Marx are both considered few of the most influential giants in social and economical history. When viewing their economical standpoints, it is not difficult to recognize the difference in ideas that they have regarding society. Adam Smith is an advocator for capitalism and the wealth that can be accumulated in it, while Karl Marx critiques on the flaws of capitalism and praises communism that will overthrow the capitalist society. However, both of them base their theories on the characteristic of labor. Even though Marx and Smith both point to the significance of one's labor in a capitalist society, Smith views labor as having the potential, in conjunction with the division of labor, to stimulate the public wealth and encourage the growth of an ultimately unregulated opulent commercial society. Marx, while starting at a conceptually similar point, observes that in a capitalist system people cannot acquire the wealth produced by their labor due to the alienation between the laborer and his/her means of production. The result of this alienation is exponential division of wealth between the rich bourgeois and the deprived proletariat, leading to revolution in the capitalist economy.…

    • 1710 Words
    • 5 Pages
    Better Essays
    Read More
  • Good Essays

    Commodities and Free Labor: Marx and Terranova
    • 1221 Words
    • 5 Pages

    Commodities and Free Labor: Marx and Terranova

    Marx is the first to state that capitalism is based on the accumulation and hyper-consumption of commodities. As such, commodities are meaningful both because of their monetary/exchange value and because they reflect the social relations of production that went into making them. In The Fetishism of the Commodity, Marx says that the inherent problem with the capitalist structure is that society tends to focus only on the monetary and exchange value of the commodity. Marx uses the word “fetish” to describe commodities and show how they cause society to fixate on their monetary and exchange values, while ignoring the exploitative nature of the market that produced them. To illustrate his point, Marx uses the example of wood used by a worker to create a table. “The form of wood, for instance, is altered, by making a table out of it. Yet, for all that, the table continues to be that common, every-day thing, wood” (1). While a commodity, in this case a table, is only valuable because of the labor used to make it, it is difficult to place a specific monetary value on labor quality, so capitalist society treats commodities as if they has intrinsic value. The value of the labor is…

    • 1221 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    Marx : Do His Theories Apply Today?
    • 1096 Words
    • 3 Pages

    Marx : Do His Theories Apply Today?

    Re: Marx and whether his theories apply to what is happening in today's modern workplace…

    • 1096 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    Communist Manifesto Ethos Analysis
    • 1130 Words
    • 5 Pages

    Communist Manifesto Ethos Analysis

    He uses information that has obviously been aware to many. When Marx disagrees with the private ownership of property, such technique is fairly visible. He believes that “Property, in its present form, is based on the antagonism of capital and wage labour.” For the Bourgeois society, “the right of personally acquiring property as the fruit of a man’s own labour, which property is alleged to be the groundwork of all personal freedom, activity and independence.” However, Marx claims that in this Bourgeois society, the workers do not work the sake of themselves but for the sake of the bourgeois and that “All that we want to do away with is the miserable character of this appropriation, under which the labourer lives merely to increase capital, and is allowed to live only in so far as the interest of the ruling class requires it.” According to Marx, it is logic that a labour should work for the purpose of working. Thus, he believes that labours working for the Bourgeois lost their sole purpose of existence-work. He claims that in the Bourgeois society, the Proletarians are used to increase capital and the Bourgeois property only, and become useless after they have done their job. In the Communist society, “accumulated labour is but a means to widen, to enrich, to promote the existence of the labourer.” Through the use of reasoning concepts that were obvious to the readers even before it was ever reasoned in this document, Marx persuades the audience that the function of the Bourgeoisie society is…

    • 1130 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    Marx vs. Weber
    • 591 Words
    • 3 Pages

    Marx vs. Weber

    According to Marx’s labor theory of value, the value of a product is not it the raw materials, but in the labor of the worker who produced it. Consequently, in Marx’s eyes, the worker deserves most of the profit from the sale of that product. Yet, in a capitalist society, the owner or employer receive most of the economic rewards.…

    • 591 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Commodity Fetishism
    • 576 Words
    • 3 Pages

    Commodity Fetishism

    In his works, Carl Marx distinguishes the user-value of commodities from their exchange-value. The user value is the use that the commodity has to the labourer or the creator of the product whereas the exchange value is the use the commodity has to the fetishized value that they have as commodities.…

    • 576 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Workplace Conflict
    • 801 Words
    • 4 Pages

    Workplace Conflict

    |Conflict is a fact of life. Human beings are multifaceted characters and "not" everyone is going to get along all the time. In many |…

    • 801 Words
    • 4 Pages
    Good Essays
    Read More

Related Topics