| This question <4|106> overall <10|12> Darci: <10|72>. |
| Question 25: What is the exchange value of a commodity? (Give its definition, not an analysis where it comes from). |
| [11] Darci: Exchange value is the use-value of a commodity. The use-value is determined by society or individual based on the usefulness (properties) of the commodity. To illustrate this point, one could look at sticky note paper. A group of chemists were working on a glue product. A product was made which stuck but not permanently. The glue product was considered a failure until someone saw the value in using it to stick paper to something that could be removed easily and without damaging the goods to which it was stuck. This made the glue useful and now of value. |
| Hans: Something that is utterly useless cannot be sold and therefore cannot be of value. This is why Marx calls the use value the “carrier” of value. But in Marx's theory, the magnitude of value is not determined by the use value but by the amount of labor incorporated in the commodity. |
| And you were trying to give an analysis, not the definition. Try this one again too. |
| [11] Darci: (datestring)Tue, 17 Jan 1995 17:29:20 -0700 (MST)(/datestring) REVISION (apparently a line was missing; presumably it said: Exchange value is the quantity) of commodity B which can be traded for quantity of commodity A which rate has been socially determined by socially accepted use value. |
| Hans: Not by socially accepted use value but by labor time. |
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