This definition of commodity was provided by Karl Marx through his critique of political economy. He further states that objects (commodities) are not a part of human being, but these commodities achieve value regarded as “use value” to individuals when these objects gain the status of necessity and important in individual’s life. When an object is regarded gains use value, the commodity becomes an object that is highly wanted by individuals and in certain cases becomes a mean of an individual’s survival. For example: insulin dependant diabetic patients can not survive without insulin, so insulin is an object that has attained status of use value in an individual’s life. The first characteristic of commodity is that it has certain value that is a representation of the amount of labor used to produce that commodity. Since commodity has a value attached to it, individuals try their level best to use in an economical manner. Other characteristics of commodity include value of exchange, use and a price attached to it. A commodity has a value of use because it consists of characteristics that can satisfy individual’s desires and requirements and these desires can be in physical as well as emotional in nature. This means that a commodity has a social value attached to it as it is not only a beneficial object to the manufacturer; it is of even great importance to the user and other stakeholders. The commodity comprises of a value of exchange this means that one commodity can be obtained in exchange of another commodity. Commodity provides the benefit of other’s work to the owner of the commodity. The characteristic of price of a commodity is the representation of the value of exchange of the commodity. Value of exchange can even be represented through exchange of different commodities. According to Marx, the trade and exchange of commodity started taking place between communities that had separate boundaries in form of economics. He further stated that a manufacture aims at obtaining those commodities in exchange that he aims at having at a surplus level to satisfy their own requirements and while the exchange takes place the manufacturer aims at obtaining something that is of similar value in exchange. Frederick Engels refers to this kind of exchange of commodity as simple commodity production (Marx, 1996, p.96). According to him, when a good is produced, it is produced without the intention of exchange but due to the development of economy based on cash and markets where goods and purchased and sold, exchange of goods becomes the intent. Rationalization In the context of sociology, rationalization is referred to as an element that is replacing prior values and traditions as drivers of human behavior in a particular society. For example: the decision of implementing democracy in a nation and accepting education are kinds of rational behaviors. They believe that rationalization is the reason due to which modern society is experiencing a shift away from main values of enlightenment. The concept of rationalization was put forward by Max Weber, according to him rationalization is the occurrence of views caused because individuals impart from the view of the world provided by religion (Shepard, 2010, p.17). Weber states that rational thinking or rational decision making is one of the most significant requirements for the development of the modern societies of the west. Weber stated that conventional ways of thinking and
Cite this document
(“Theorising Social Life. Keywords glossary. 3 deffinitions. Define: Essay”, n.d.)
Retrieved from https://studentshare.net/sociology/78951-theorising-social-life-keywords-glossary
(Theorising Social Life. Keywords Glossary. 3 Deffinitions. Define: Essay)
“Theorising Social Life. Keywords Glossary. 3 Deffinitions. Define: Essay”, n.d. https://studentshare.net/sociology/78951-theorising-social-life-keywords-glossary.
Cited: 0 times
Glossary Glossary Commodity The term commodity has been referred to as an element or product or service which is produced by the use of human labor and after it has been produced it is presented for the purpose of sale within a market (Marx, 2009, p.193)…
The historical development of romance in literature, famous romance writers, appreciation of the role it has played and criticisms of this art form by different scholars at different times are covered here (Lewis, 1954, 424). Romantic literature can be traced back to the high medieval ages between the 11th and 13th centuries AD.
It goes on with some interesting discussions which create a lot of sense in understanding the global market of oil. Supply of oil in international market The basic oil supplying nations of the world comes within the group called OPEC (Organization of the Petroleum Exporting Countries).
Therefore, in a way it can be seen as a way of defending a person's beliefs and principles as it provides an effective cover for the actual feelings. This process can come in varied psychological forms; one in which the person is fully conscious and one in which the person is sub conscious.
Individuals, governments, societies and companies are now investing heavily in this sector because it has become fundamental in terms of competitiveness in the postmodern world. In a report, for instance, by the British Broadcasting
ologists included Howard Becker (1963) who used this concept in the steps in ‘becoming a marijuana smoker’ where smokers learned the technique, learned to perceive the effects and lastly learned to enjoy it (Becker 1963). Likewise, Asylums (1961) by Erving Goffman,
The early part of 20th century and beyond has been deemed as the phase from when a steady rise in international trade activities has materialized. According to certain economists, globalization has no perfect
Here, this essay forms an imagined business plan for Biennale Company.
Biennale Company is an organization that is focused on arts and entertainment on a premium quality. Biennale Company will engage a lot in
6 pages (1500 words)Essay
Got a tricky question? Receive an answer from students like you!Try us!
Let us find you another Essay on topic Theorising Social Life. Keywords glossary. 3 deffinitions. Define: commodity, rationalization and globalization for FREE!