Law of Value 2: The Fetishism of Commodities

This phenomenon where objects have social power, in which things act as if they have a will of their own, is what Marx sought to unravel with his notion of "the fetishism of commodities." When Marx talked about fetishism he wasn't talking about whips and chains and leather outfits. He was talking about the way the relations between producers in a capitalist society take the form of relations between things.

Full text at:
http://kapitalism101.wordpress.com/2010/05/05/the-law-of-value-2-the-fetishis...

Category:

Education

Tags:

• marx
• value
• capital
• fetishism
• commodity
• price
• socialism
• capitalism
• reification
• economics
• money
• theory

[68generation]

Let's take the example of the sweater: isn't also its value determined by the material with which it is made? For ex. wool is warmer than polyester and it is usually more expensive. Even toys made of wood are usually more expensive than the ones made of plastic. So doesn't the raw material also determine the value and therefore the price?

[brendanmcooney]

@68generation. The total price is the value of the raw material and and machines (determined by a previous labor process) plus the value added by labor in production (part of which makes up the value of the wage and part of which goes toward the capitalist's profit).

[SpectacleofDebord]

@jsymons1985 You're over exagerating the "use-value" of the commodity. Wal-Mart will let a loaf of bread sit on the shelf and turn to dust before they let you have it w/o $. Commodities are for those that can afford them, not for those who need or can use them. They're created only to make their owners wealthy, period. If someone else happens to benefit along the way, thats an unintended consequence.

[jjbreville]

Great Video. But the section on the ark of the Old Testament is inaccurate. The Israelites did not think the ark gave them the victory, much less failure. They were very clear it was their God. As a matter of fact, they were not allowed to worship any statues or idols precisely to prevent them from becoming attached to their neighboring nations' fetishes. The ark was to remind them of the pact they made with their God. Even so, the Israelites were very naughty throughout. Love the video though!

[ckerton1]

@jsymons1985 You should watch the other videos in the series. It illustrates the theory better.

[hersheyguy]

thanks for explaining what fetishism was. i thought it was just an obsession with commodities. maybe i didnt make the connection in capital haha

[jsymons1985]

This all seems rather hair-brained and weird... Price is where supply meets demand... it reflects what people are willing to pay, and yes people do think of objects as imbued with value, but i think they always have. When I am cold, a sweater is valuable, when I am hot an air conditioner is etc. Whether I am a capitalist or living in agrarian society I will think this. Precisely what's wrong with this valuation of goods. I don't think this necessarily bleeds into social relationships.

[nonconservative]

VERY INTELLIGENT WORK! THANK YOU!

[68generation]

Thanks for the explanation, I finally got that clear.