Natural price market price use value exchange value

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Unformatted text preview: mmodities, it’s unit being the single commodity.” natural price market price use value exchange value NOM NOM NOM Use Value A commodity is a thing that satis ies wants… what kind, it doesn’t matter. It is a “utility” or “use-value.” And they are the substance of our wealth. But use-values are not yet commodities… = = Exchange Value Commodities are also the material bearers of exchange value “Thus one volume of Propertius and eight ounces of snuff may have the same exchange-value, despite the dissimilar use-values of snuff and elegies.” Critique of Political Economy, 1859 ? But is exchange value inherent in the commodity? Where does it reside? What is it made of? Example please, sir? But is exchange value inherent in the commodity? Where does it reside? What is it made of? Boots Das Capital Bottle of water –  But what allows us to make this comparison of value? –  Is it material, chemical, geometrical... What is it? (yet.) DON’T THINK OF MONEY. “If we disregard the use-value of commodities, only one property remains, that of being products of labor. (128)“ THE LABOR THEORY OF VALUE The Cobbler’s Labor? The Bookbinder’s labor (or the Author’s?) The Coca Cola Company’s ingenious bottling of something that we already have for free? BUT WHAT KIND OF LABOR? The Labor Theory of Value It is not speci ic forms of labor (the joiner, the mason, the spinner) but “human labour in the abstract.” –  “A use-value has value only because abstract human labor is objecti ied or materialized in it” –  How do we measure value of labor? “Regarded as exchange-values all commodities are merely de inite quantities of congealed labour-time.” DURATION “Regarded as exchange-values all commodities are merely de inite quantities of congealed labour-time.” DURATION (Here’s where it really gets confusing...) WHY NOT? “Socially Necessary Labor Time” •  “Commodities … which can be produced in the same amount of time, have the same value.” –  “a regulative law of nature...in the same way the law of gravity aserts itself when a person’s house collapses on top o...
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