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Marx extensively criticized the social impact of commodification under the name commodity fetishism and alienation. [17] Prior to being turned into a commodity, an object has a "specific individual use value". [18] After becoming a commodity, that same object has a different value: the amount for which it can be exchanged for another commodity ...
Rather than emphasize how particular kinds of objects are either gifts or commodities to be traded in restricted spheres of exchange, Arjun Appadurai and others began to look at how objects flowed between these spheres of exchange (i.e. how objects can be converted into gifts and then back into commodities). They refocussed attention away from ...
In others, it is a commodity that is being bottled and sold. The commodification of water refers to the process of turning water, especially freshwater, from a public good into a tradable commodity also known as an economic good. This transformation introduces water as a product into a market which
In Marx's theory, a commodity is something that is bought and sold, or exchanged in a relationship of trade. [4] It has value, which represents a quantity of human labor. [5] Because it has value, implies that people try to economise its use. A commodity also has a use value [6] and an exchange value. [7]
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Being limited by the physical properties of the commodity, it has no existence apart from that commodity. A commodity, such as iron, corn, or a diamond, is therefore, so far as it is a material thing, a use value, something useful. This property of a commodity is independent of the amount of labour required to appropriate its useful qualities.
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