Marx's Commodity Analysis

Karl Marx is most known for proposing the class struggle. Marx’s definition of class was defined by the ownership of property. “Such ownership vests a person with the power to exclude from the property and to use it for personal purposes. There were three classes in society for property. The three classes are called bourgeoisie, the class that makes a production of items such as machinery and factory buildings. The bourgeoisie class made its income from its profit. The second class was landowners. Landowners made their income from property they owned and rented out to others. The third and final class was the proletariats. Proletariats made money by labor. They sold their labor for a fee. The one thing that all the classes had in common was that they all were determined by their property, not by the earnings made or ranking. It is all determined by handing out and “consumption” (Rummel).

Marx’s commodity theory is a two-category theory; objects become commodities when they have more use than their standard value. When commodities are traded they can either have exchange or sign exchange value. Exchange value occurs when monetary value is placed on an object and is traded and sign exchange value is when a commodity is exchanged social status is obtained (Tyson 62). As Tiana goes along her adventure to achieve her goal of buying a building to open her restaurant she, as well as other characters use their commodities in hopes to gain something in

Marx's theory on Capitalist exploitation is an incredibly deep theory, but to explain it in a nutshell, it is that the working-class people are improperly compensated for their work. The rich, the higher-ups, they continue to expand their wealth by exploiting the working class, the Capitalist system not only allows but effectively demands that Capitalists increase their wealth, long-term or short-term, whether at the cost of the working-class or not. There are three “values” to take into consideration, the use-value, the exchange-value and the

Revolutionary socialist Karl Marx believed that the economic calculation problem should be solved adopting a communist approach; he expressed his ideas in his most notable work “The Communist Manifesto” in 1848. Marx believed that capitalism should be replaced by socialism and eventually communism and it should be done through abolishing markets, prices and private property. To understand Marx’s ideas it is important to define capitalism socialism and communism. Capitalism can be defined as ‘an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state’. On the other hand socialism can be defined as ‘a political and economic theory of social organization, which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole’.

The Communist Manifesto starts with the famous quote, “The history of all hitherto existing society is the history of class struggles” (Marx and Engels, p. 14). This quote indicates the class struggle evolved from capitalism where mankind focused their efforts on improving society by desiring more physical means to provide monetary value. Since Marx was philosophical materialist, he held the belief that everything is matter, solid and physical. According to this belief, the human mind is simply neurons firing and everything the body and mind is capable of can be explained biologically. Following this principle, the only things of importance are materialistic objects, therefore objects are of the most value. Ergo, Marx’s prominent claim

Value is an inherent part of all human beings and should not be decided nor measured by the vast accumulation of monetary wealth. That being said, I do believe we can have a better understanding of human behavior based on Marx’s theory, especially so in modern America, where the value of an individual is mainly based on the amount of money they possess.

Next I would like to define and connect means of production and capital. The means of production refers to institutions or establishments, such as: factories, offices, or any places of business that are privately owned. Marx sees financial interest in these foundations as deficient in relation to the return on investment created by the workers who make them valuable. Under Marx’s theory of value, these establishments are only valuable as a result of the workers’ labor and not the financial or capitalistic investment. Capital can therefore be defined as the money

The concept of commodity fetishism applies both to the perceptions of normal people and people in everyday life and to the formal study of economics. Economists, both then and now study the economy in terms of the movements of money, goods, and prices, which is essentially, the point of view of the corporation. from this point of view, the social dimension of economic life is considered unscientific and unworthy of discussion. Karl Marx argues that this commodity fetishism allows capitalists to carry on with day-to-day affairs of a capitalist mode of production without having to confront the real implications of the system of exploitation on which they depend.

Karl Marx on the other hand, has a wildly different opinion on property. In his most famous piece, The Communist Manisfesto, Marx’s opinion is set up in one line; "… the theory of the Communists may be summed up in the single sentence: Abolition of private property” (Marx in Cahn 885). Marx firmly believed that ownership of private property was a way in which the social classes became more divided, and in turn, a way to oppress the poor. His opinion largely stems from the time period in which he lived (1818-1883), where factory owners infamously underpaid employees for dangerous work in treacherous conditions. However, Marx idea of private property was a bit different from Locke and did not mean things like land ownership or personal items, but the relation of individuals used for the means of production in a privately owned enterprise. Marx points out however, that in this state, unlike the ideas and time of Locke (1632-1704), the laborers do not benefit or acquire any property from their labor. In fact, the capital they are producing is the “kind of property that exploits wage labor” (Marx in Cahn 886) and serves to oppress them and further the division of classes. Therefore, Marx aimed to take this “private property” and give it to the Proletariats in order to change its status from the elite ownership of the Bourgeoisie, to the

To begin, Marx claims that labor power is a special commodity that describes the physical and mental abilities found within human beings (Marx, page 270). Humans have this unique ability to transform natural materials into commodities through their own power. This is why individuals must be “free” in multiple senses in order to sell their labor as a commodity.

At its very core, Marx’s capitalist theory is an economic system based on three things: wage labour, which comes from land owners employing individuals to work for a wage, control of the means of production (factories, farms, offices and machinery), and production for exchange and profit. Considering the majority of society do not own the means of production, and are not private owners, they are forced to offer their ability to work in exchange for a regular wage,

Marx’s analysis of capitalism begins with an investigation of the commodity because the wealth of capitalist nations is essentially “an immense collection of commodities” (Chapter 1). Marx differentiates between the use-value and the exchange-value of any given commodity. The use-value of a commodity refers to its qualitative ability to satisfy a human need, while its exchange-value is the “quantitative relation… in which use-values of one kind exchange for use-values of another kind” (Chapter 1). Therefore, exchange-value is not an intrinsic quality of a commodity; it is only discovered in comparing a fixed quantity of commodity A to a fixed quantity B. Since differing quantities of these two commodities appear to have the same value,

Marx viewed the ‘commodity’ as the most elementary form of modern wealth. The essence of the commodity is the

Marx uses the concept of labor as the social activity to explain how humans are shaped by the interaction of society and themselves. He points out the concept of objectification of labor to describe humans themselves as the subsistence of objectification. “The product of labor is labor embodied and made objective in a

Though Marx’s theories were first conceived over 150 years ago, his work continues to be tremendously influential and is perhaps the most well known scholarship within the sociological canon. Despite their prominence, some of Marx’s most famous ideas have yet to be proven by the course of history. Neo-Marxists may insist that the revolution is coming, but the fact remains that the overthrow of capitalism has yet to materialize. I argue that the communist revolution has not yet occurred because the proletariat has been unable to develop the universal class consciousness that Marx asserts is a necessary condition for his predicted mass uprising. Additionally, I postulate that the theories of Weber and Simmel reveal the factors impeding