| This question <803|814> overall <806|808> Nazgul: <794|951>. graded A |
| Question 195: Which characteristics of value are expressed better in the Expanded form of value than in the Simple form, and what are the defects of the Expanded form? |
| [807] Nazgul: Less than perfect. In comparing the expanded form to the simple form of value, the expanded form better “distinguishes the value of a commodity from its own use-value” (pg. 158). In this form the value of the commodity is equated with every commodity except for itself. While this characteristic of the commodity is advantageous in giving individuals more opportunity for exchange, it does present three major defects in the relative form outlined on page 156 in Capital, lack of uniqueness, simplicity and uniformity. |
| The first defect in the expanded form can be stated as lack of uniqueness because the series of equivalent commodities is unending. The unending commodities entering the market “provide the material for a fresh expression of value.” |
| The second defect, the lack of simplicity, is attributed to the various labour involved in the different commodities being equated to one another creating a “motley mosaic of disparate and unconnected expressions of value.” |
| The third defect, lack of uniformity, arises from individuals interpretation of each transaction. Each owner involved in a transaction has a commodity whose relative form of value differs from every other commodity. Depending on the time and place that the transaction is taking place, the commodities exchange value can vary for the owner. The lack of uniformity makes it ideal to have another commodity that can be equated to both in a transaction, this is where the money form becomes ideal. |
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