Fetishism of commodities as defined by Karl Marx is what gives inherent value to objects made by man’s hand. Marx states that there is a value-relation between the products of labor, commodities, which might otherwise have no relation with their physical properties or the materials they were made from (Marx, 64). Once value is established, it is possible for producers to determine in what proportions their products are exchangeable (Marx, 67). Marx uses the example of one ton iron being equivalent to two ounces of gold (Marx, 67). Once these value relationships are determined they can fluctuate, but are guidelines for expectations in value.
How does this impact daily life for the average person? Desire for any type of commodity leads to the question of the value of the commodity. What determines the value of a commodity? This is a loaded question because it can be dependent on the usefulness or desirability of the commodity. Commodities can have different values to different people. This is apparent in television shows such as: American Pickers, Antiques Roadshow, and Pawn Stars. Objects that appear to be mundane and unimportant can actually be quite valuable, and sometimes the value is as high as a person is willing to give in order to obtain the commodity. This doesn’t always seem logical. How can old toys, used furniture, or sports memorabilia be so valuable? Some commodities are worth more than the materials they are made with and can be more valuable now with age than they were brand new. Similar to Marx’s example with the iron and gold, just because commodities share similar traits does not mean they have equal value. The act of exchanging the products of labor is what gives them value (Marx, 65). People value commodities differently and sometimes commodities are invaluable to one person while the same commodity is valueless to another.
How does this impact daily life for the average person? Desire for any type of commodity leads to the question of the value of the commodity. What determines the value of a commodity? This is a loaded question because it can be dependent on the usefulness or desirability of the commodity. Commodities can have different values to different people. This is apparent in television shows such as: American Pickers, Antiques Roadshow, and Pawn Stars. Objects that appear to be mundane and unimportant can actually be quite valuable, and sometimes the value is as high as a person is willing to give in order to obtain the commodity. This doesn’t always seem logical. How can old toys, used furniture, or sports memorabilia be so valuable? Some commodities are worth more than the materials they are made with and can be more valuable now with age than they were brand new. Similar to Marx’s example with the iron and gold, just because commodities share similar traits does not mean they have equal value. The act of exchanging the products of labor is what gives them value (Marx, 65). People value commodities differently and sometimes commodities are invaluable to one person while the same commodity is valueless to another.