3min chapter

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Lecture #3 Marxist Economics

Policy@McCombs

CHAPTER

Marxism and the Fetishism of Commodities

Marx maintains that exchange value is unnatural because unlike use value, it does not reside in the natural properties of the thing. We're thinking subjectively about social relations between men. Any commodity has a value relation to each of the others. If this commodity is used to express the value of all the others, it becomes money. And if it can be recognized universally, it becomes the supreme power among commodities, the supreme fetish.

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