Karl Marx Commodity Fetishism

Midterm: Part One
Karl Marx is known for his work on commodity fetishism. A commodity is an object considered to be merchandise or a possession. Marx referred to a commodity as having its’ exchange value determined by how much labor and time was put into producing that certain object or desired item. The fetishism part of a commodity is defined as the habitual act of characterizing commodities with possessing qualities that are human-like or larger than life. Marx sees commodity fetishism as people defining themselves by the things they own. These commodities can include luxury cars, large houses, jewelry, etc. Karl Marx thought this idea of being defined by our possessions was contemptible. Marx also thought it was trivial to have things people …show more content…
My iPhone is considered a distinctive commodity to me because I paid for it myself and I have wanted and needed a new one for a while before I got it. The use value of an iPhone is very helpful and has almost everything you could ever need directly on your phone, it is like a computer in your pocket. Whether you use it for work purposes or use it for your own personal comfort, it is an accessible and very desirable item. The iPhone has been around for quite a few years but is still relatively new technology and especially since the ongoing improvement and development of the new generation of iPhone continues to occur. There is an abundance of extensive publicity surrounding the phone and there has been for years. They are very expensive and everyone wants them. To own an iPhone gives people a sense of pride and superiority over those who do not have the “latest” version. The exchange value of this item is very fluctuated. The cost of labor to produce and create this item is significantly lower than the actual high cost of the phone, particularly as soon as a new model is released. However, the company over-prices the item because they know they can, people want the new iPhone and are willing to pay for it at any