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Commodification is the process of transforming inalienable, free, or gifted things (objects, services, ideas, nature, personal information, people or animals) into commodities, or objects for sale.
In economics, a commodity is an economic good, usually a resource, that specifically has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
Meaning is the thread that ties intelligence to autonomy. Without it, intelligence becomes hollow—a tool for efficiency rather than a force for creation. Artificial systems, for all their ...
The commodification of nature has its origins in the rise of capitalism.In England and later elsewhere, "enclosure" involved attacks upon and eventual near-elimination of the commons—a long, contested and frequently violent process Marx referred to as "primitive accumulation."
Fungibility is different from liquidity.A good is said to be liquid if it can be easily exchanged for money or another good. A good is fungible if one unit of the good is substantially equivalent to another unit of the same good of the same quality at the same time, place, etc.
Use value (German: Gebrauchswert) or value in use is a concept in classical political economy and Marxist economics.It refers to the tangible features of a commodity (a tradeable object) which can satisfy some human requirement, want or need, or which serves a useful purpose.
The nominal value of a commodity bundle tends to change over time. In contrast, by definition, the real value of the commodity bundle in aggregate remains the same over time. The real values of individual goods or commodities may rise or fall against each other, in relative terms, but a representative commodity bundle as a whole retains its ...
The additional definition matrix shows the four common categories alongside providing some examples of fully excludable goods, Semi-excludable goods and fully non-excludeable goods. Semi-excludable goods can be considered goods or services that a mostly successful in excluding non-paying customer, but are still able to be consumed by non-paying ...