Exchange Analysis On The Realms Of Financial Trading

1604 WordsApr 9, 20177 Pages
Exchange can be defined in a number of ways, it is the process of giving or taking an object/thing/commodity in return for another (Merriam-Webster, 2017). Or as defined by Investopedia (2017) an exchange is a “marketplace in which securities, commodities, derivatives and other financial instruments are traded”. The element of “financial instruments” however can be brought into question. It can be hypothesised that exchange does not always have to exist within in the realms of financial trading. The exchange journal exercise challenged my idea of exchange as it highlighted the inherent sociality of exchange relationships. In response to this it also highlighted the capitalist underpinnings, allowing for insight into the ways in which…show more content…
The agency and sociality of commodities can be exhibited by an exchange via Vic Deals between my flatmates and I and a person down the road from us. Our flat requires a couch, it is an object we desire and thus are happy to exchange money, for a couch. Money however is a fictious commodity as a commodity, according to Polanyi (2001) as something produced for consumption however money is not consumed; it just circulates through markets acting as a stand in representing the value of commodities. After locating a couch on Vic Deals we then message the seller of the couch. Through Facebook a social exchange of basic details, including the location of the couch, occurs. This is a purely social exchange however it could be argued that Facebook is gaining revenue via advertising and our patronage on their website. To me when I actually began to think about capitalism in a deeper sense I realised just how engrained into day to day life it is, you don’t have to be making a purchase in order to interact with capitalist systems. It turns out that the couch is located very near to our flat which adds the element of convenience to this ongoing exchange. We decide to go look at the couch and then after looking at we decide to purchase this couch. My flatmate transfers $125 to the seller’s bank account; in this exchange, the only physical handing over of goods/commodities is us receiving the couch. Whilst the money does exist it is not in physical form and is only transferred from
Open Document