This question <20|20> overall <17|20> Toby: <13|50>.

Question 74: Use-value is the quality of the commodity, and exchange-value is its quantity. Right or wrong?

[18] Toby: Use-value versus exchange-value.   I feel this definition divides use-value and exchange-value unequally. In fall of 2003 ElGuey [2003fa:40] commented on use-value and exchange-value. I agree with his general evaluation of Marx's writing, however I find it difficult to pin-point “use-value” as one specific value. What has high use-value to one person may be not so valuable to another. For example some people love snow skiing so much they will pay nearly any price to ride the mountain, while others will only ski if they have a two-for-one coupon or some other type of discount pass. I see the exchange-value as a product of the use-value, unlike the completely separate definitions.

Marx states that we assume to deal in “definite quantities, such as...yards of linen, or tons of iron.” This is very true however it doesn't deal with the range in value different people place on those “yards of linen” and “tons of iron.” I agree with Brandt's conclusion from the Fall 1997 course [1997ut:134-3] stating that the exchange-value may be based on “either quality or quantity....” And further declaring “The use-value of a commodity then is the carrier of the exchange-value.”

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