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Address a commodity and its relationship to capitalism and inequality - Research Paper Example

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It can define as “a commodity is, in the first place, a thing that satisfies a human want; in the second place, it is a thing that can be exchanged…
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Address a commodity and its relationship to capitalism and inequality
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Address a commodity and its relationship to capitalism and inequality

Download file to see previous pages... Therefore, a certain amount of human labor is embodied in a commodity.
Capitalism is an indirect system of governance for economic relationships, for one to understand capitalism as an indirect system of governance means to transcend the boundaries of standard neoclassical economics analysis, moving beyond merely the markets of pure economics to include the institutions and authorities of political economy. According to Karl Marx, there are major factors that contribute to capitalism; these are the basic features of capitalism. The first one is that capitalism is an indirect system of governance.
From the above it can be said that capitalism is a system of economics that gives one the right to own. And do whatever one likes with his/her possession. It then makes the system to be the most efficient in terms of making a living. A perfect capitalist society one works for money that is backed by commodities, and these commodities give the currency strength. Marx’s understanding of commodities (products of labor intended for exchange) is central to understanding his ideas about the nature of capitalism. Commodities produced to subsist and to satisfy their needs have use value. Under capitalism, where workers produce for others and exchange commodities for money, products have exchange value. Because it is often unclear where a commodity’s value comes from, it takes on an independent, external reality. This is what Marx called the fetishism of commodities, when the value of an object or commodity is believed to be tied to something “natural” or independent of human action, such as markets. For this fact the reality that value originates from labor and the satisfaction of needs is disguised.
A good example of a commodity that can epitomize the capitalism of a commodity is Coca-Cola. This is a giant brand that has established itself all over the world. It is a global commodity. Looking at the industrial ...Download file to see next pagesRead More
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