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Lecture 1

Commodities (lecture one - may 17 2012).docx

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CMNS 1115

May 17/2012 Commodity form, Karl Masx on Commodity, Commodity Fetishism Commodity form, Karl Masx on Commodity  Historical content o Commodities are specific to Capitalism o Markets o Exchange value Use Value  The utility of an object o Intrinsic to the physical or natural properties of the object but contingent upon historical factors o Exists independently of the amount of labour expanded in the production of the community May 17/2012 Exchange Value  specific only to commodities  is not determined by its utilities on how awesome it is o the quality  is determined by its relation to other commodity o the quantity  results in an equivalence or equality between all commodities  a thing can have use-value without having exchange value (without being exchanged) but a thing cannot have exchange value unless… it is a use-value  if a thing is useless, the labor expanded on it is useless o has no value to it  these must be a social division of labour in order to produce commodities o use-values cannot be exchanged as commodities unless the labour embodied in them is qualitatively different in each of them  the value of a commodity has a purely social reality o because it embodies human/social labour o can only be expressed
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