Marx's Commodity Analysis

Decent Essays
In chapter one, Marx says that a commodity is a use value and exchange value. The commodity as a use value is something that humans want or need, the use value of the commodity is determined by how useful the commodity is, but Marx says it is immeasurable and explains that it can only be determined when consumed. After he explains, use-value Marx explains commodities as an exchange value. He explains that commodities’ value as the quantity of other commodities that it will exchange for. Later in this chapter, Marx says that the exchange value of a commodity is merely a measurement of its value, he says that value connects all commodities so that they can be exchanged with each other. In the text, he says this value is determined by "the labor time socially necessary that is required…show more content…
For example, the 20 linen is the relative form, and the coat is the equivalent form. In this section He also says that comparing 20 yards of linen to 20 yards of linen is meaningless; linen cannot be compared to itself because there is no expression of value. In chapter 2 Marx speaks of exchange and the social and private characteristics of the process of exchange. He says that owners must acknowledge each other’s ownership of commodities to realize its exchange value because the exchange is not only the exchange of items it’s also a contract between the owners. Marx then explains that the use of value cannot be realized by the person who's selling the item, only the one who purchases the commodity can realize the value because the one selling the commodity finds no utility in the commodity other than its exchange value. In chapter 3 Marx speaks about money and the circulation of commodities; he examines the main functions of
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