| This question <284|11> overall <3|5> Civic: <958|6>. |
| Question 25: What is the exchange value of a commodity? (Give its definition, not an analysis where it comes from). |
| [4] Civic: Exchange value is the quantitative relationship or proportion in which values are exchanged for one another. Marx feels that this is the practical side of this argument, and this is the 1st notion of exchange value. But exchange value also represents a social aspect that the properties can demand quantitative value due to this social desireability in the marketplace. |
| Hans: The quantitative relations in which values can be exchanged for one another are already something social. What you mean by “social aspect” is apparently a source for this exchangeability located deeper in society, i.e., what Marx calles value as opposed to exchange value. But unlike Marx, you see this value coming from the “social desirability” of the product. |
| [4] Civic: The capitalist society is only concerned with what values are socially desirable and not necessarily the usefulness or use value of the commodity. |
| Hans: You apparently interpret Marx's dichotomy between use value and exchange value as one between individual and social desirability. This is not what Marx has in mind. |
| [4] Civic: Additionally, Marx then states that the value or “proportion is constantly changing with time and place”. This then shows that the exchange value is not intrinsically linked with the commodity, but rather a function of supply and demand in the marketplace. The observation to be made here is that exchange value is not linked directly with the commodity, but rather it is what the commodity can demand in the marketplace. Therefore the use value of the product is not looked at as part of the exchange value, only what the commodity can demand at the market. I think this is Marx's commentary as a pitfall of the capitalist society. |
| Hans: You have read the Annotations, but there are still some basic misunderstandings. Please try this Question again, read it carefully. The answer can be given in one or two sentences. |
| [4] Civic: (datestring)Wed, 11 Jan 1995 09:30:25 -0700 (MST)(/datestring) This is a reply to answer question 25 again. My understanding of exchange value is that it is the social properties of the commodity that are exchanged against other use values in a quantitative fashion. In other words the exchange value of my car is 6,000 dollars while the use value is transportation. Thus, exchange value is the exchangability of the commodity in the marketplace. Use value is the natural uses of the commodity and exchange value is an expression of these social properties to command quantitative value in the marketplace. |
| Hans: Yes, exchange value is the exchangeability of the commodity in the marketplace. This is the definition of exchange value asked for in Question 25. The Question asked to give a definition, not an analysis. Your answer gives also an analysis, namely, that this eschangeability is an expression of the social desirability of the good. Marx's analysis is different. |
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