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[62] Kowski: Exchange Value. Marx describes how one could conclude that exchange value
is not an inherent characteristic of a commodity. Because
goods can be exchanged at varying amounts, times, and
places — things that are external to the commodity itself and
are constantly changing, — the exchange value seems to come
from these external conditions of the exchanges and are, as
Marx puts it, ‘accidental’ and ‘purely relative’. While it
is easy to understand how one can reach the conclusion that
exchange value is not an intrinsic characteristic of a
commodity based on these arguments, Marx counters with
another argument claiming that exchange value is actually
inherent in a commodity. Every transaction that takes place
trades an amount of something for an amount of something
else. While the amounts of each good are different, they are
equal in worth. This equality in worth depending on the
goods being traded shows that the exchange value is inherent
in each commodity. The exchange value cannot be expressed
unless the commodity is known, thus it is inherent. |
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