Commodity fetishism
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| - | Example: Beanie Baby collectors keep their toys in plastic cases, not playing with them, because if their tags are damaged they lose their value. The commodity's original value was in the pleasure attained from playing with the soft object, but collector's instead valued them for being a somewhat rare commodity, replacing its use-value for its exchange-value. (Marx, Commodities) | + | Example: Beanie Baby collectors keep their toys in plastic cases, not playing with them, because if their tags are damaged they lose their value. The commodity's original value was in the pleasure attained from playing with the soft object, but collectors instead valued them for being a somewhat rare commodity, replacing its use-value for its exchange-value. (Marx, Commodities) |
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Marx and Engel's discussion of commodity fetishism remains relevant in today's capitalistic culture. Commodity fetishism is an idea of Marx's which apparently represents a false impression of society said to arise in the complex of a capitalist market system. Commodity fetishism refers to the idea that a commodity's worth is entirely based on its economic, or trade value, not based upon its use-value. Such fetishism occurs when a commodity's exchange-value has so overcome its use-value that the use-value has been forgotten, therefore making a commodity stripped of technical use-value and only valuable in its 'commodity-ness.' Marx introduces the idea of commodity fetishism in the opening chapter of his essay Capital, (1867). It has been argued that Marx's use of the term 'fetish' was an ironic comment on the 'rationality' of capitalism. Because he wrote the essay at a time when 'fetish' was generally used in the study of primitive religions and societies, Marx's term 'commodity fetishism' can be seen as referring to the primitive belief system that arises in capitalism. In subsequent Marxist thought, commodity fetishism is thought to be a central component of the dominant ideology in capitalist societies, and helps maintain hegemony within a society.
Example: Beanie Baby collectors keep their toys in plastic cases, not playing with them, because if their tags are damaged they lose their value. The commodity's original value was in the pleasure attained from playing with the soft object, but collectors instead valued them for being a somewhat rare commodity, replacing its use-value for its exchange-value. (Marx, Commodities)
