Commodity

Following the Marxist theory of commodity fetishism, I suggest that these discourses of oil create the illusion that the social value of oil is the product itself (objective), which ignores the human processes (subjective) that shape the capitalistic machine. According to Marx, commodities are the products and services of human labor that organize the productive system of a society. While fetishism “is the representational complex through which objects appear as the source of the powers which human labor inscribes in them” (Coronil 34). In modern economies, oil is the primary commodity that shapes political and social live in Venezuela and other nations. Oil reveals that the connection between the production and representation of the value…

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…

When applying the philosophy of Karl Marx to “Pop Art,” I think that the definition of the word “commodity” is basically a commercial image representing a product and/or an individual, who also personifies and symbolizes an occupation or an item, (such as food or a movie), to the community. My interpretation of the meaning of “commodity fetishism,” would be defined as the logo or image that the general public mentally combines to symbolize a product or commodity because it is mentally linked to…

In today’s western capitalist societies individuals are consciously and subconsciously immersed into the constantly growing world of technology, with the internet, social media and global connectivity. This emergence of new media and technology has profound effects on society and individuals. Thus, bringing forth the theory of ‘the Culture Industry’ and its relevance today. The culture industry argument was developed by Adorno and Horkheimer and focuses on the effects of capitalist mass media…

consumption is reduced it means that soon the company may go out of business (Gilmore, et al., 2010). The health regulations are also banning the company from making adverts o the tobacco commodities, and that’s is hurting the company’s customers base. The company will find it very difficult to explore new markets given that most if the clients don’t have the information regarding the commodity and the only way to inform then, is by the use if adverts but then the use of such is being banned.…

adhere to norms in order to fit in with the rest, thus these norms essentially hold power over individuals and the population. Furthermore, power has a significant role in both creating norms and controlling behavior because people tend to yield to power and conform to a system that the power figure establishes. In his writings on commodity fetishism, German philosopher and revolutionary socialist Karl Marx, well-known for his 1848 pamphlet The Communist Manifesto, argues that in commodities,…

For example, a handle on a mug allows you to hold the mug without burning your hand. In the case of this record, the principle of affordance is somewhat diminished in a physical sense. I could play any record from my collection in the circumstances. However, it depends upon the end I am attempting to facilitate. I could play a faster, more hard-edged piece of music and afford a differing reaction from a crowd. Yet, when endeavouring to convey a particular emotion or mood, I opt for Acamar. Music…

Commodity Chain Analysis Paper Through the expansion of globalization, the integration among people of different nations has grown exponentially, which has resulted in the reliance upon international relationships. These relationships are represented by international trade and investments which have contributed to the interchanging of world views and certain cultural aspects. This interchanging has led to the development of a global market with social, cultural, economic, and environmental…

Keywords: Social Relations, Reciprocities and Network Trading (Internal and External) Commodity Exchanges Money and Gift Identity: Outsiders/Foreigners (Threatening Aspect) Trade and tensions in the social economic relations Constituting network relation requires stability of social economy; therefore trade may bring peace, as it requires generosity, hospitality, and honor of human being through contractual gifts (Mauss, 1967, Polanyi, 2001). The system of economic exchange brings people to…

1. Commodity Money - Commodity money is money backed by its actual value. The object has worth because of its material. Items such as gold or silver would be considered commodity money because gold and silver have a value that is not held by faith. 2. Fiat Money - Fiat money is currency established by a government or law. Fiat money does not hold actual value. U.S tender is worth the number printed on the bill because we have faith that it will hold true. If citizens did not have faith that the…