| This question <94|81> overall <77|79> Adamwest: <1840|412>. |
| Question 73: Use-value is the quality of the commodity, and exchange-value is its quantity. Right or wrong? |
| [78] Adamwest: I find the above statement to be correct. Marx makes it clear very early on that useful things can be analyzed by their quality and quantity. On page 126 he states “The usefulness of a thing makes it a use-value”. So assuming that the higher an object's usefulness is in direct correlation to its use-value then we are correct. |
| Exchange-value can be looked at as the exchange rate from one item to another. Marx presents this idea by saying “Exchange-value appears first of all as the quantitative relation the proportion in which use-values of one-kind exchange for use-values of another kind”. This shows that the exchange-value is found by looking at the use-value of the two items that are to be traded. These use-values show us how many of item “a” is needed for one of item “b”, or vice versa. |
| Hans: Did you mean to write: “So assuming that the higher an object's quality is in direct correlation to its use-value then we are correct”? |
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