Fetishism of commodity karl marx

Those who must sell their labor power to live are "proletarians. His answer is that universal measure for value, expressed in terms of money, corresponds to the amount of labor time that goes into the making of each commodity. The concept of commodity fetishism applies both to the perceptions of normal people in everyday life and to the formal study of economics.



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Marx believed that commodities and money are fetishes that prevent people from seeing the truth about economics and society: It is the opium of the people.



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The word fetish refers to any object that people fixate on or are fascinated by and that keeps them from seeing the truth.

Frequently Asked Questions about The Labor Theory of Value


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A huge subject broken down into manageable chunks. In , well behind schedule, the first volume of his masterwork "Das Kapital" "Capital" was published, which analyzed the capitalist process of production arguing that the alienation of human work and the resulting "commodity fetishism" was the defining feature of Capitalism , and in which he elaborated his labour theory of value and his conception of surplus value and exploitation which he argued would ultimately lead to a falling rate of profit and the collapse of industrial Capitalism. The term relations of production refers to the relationship between those who own the means of production the capitalists or bourgeoisie and those who do not the workers or the proletariat. By ideology they meant ideas that reflect the interests of a particular class at a particular time in history, but which are presented as universal and eternal.

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  1. Some have argued that Marx's original contributions to philosophy were extremely limited or even zero, and that all he did was to adapt Hegel 's work to his own political, social and economic ends. In this very basic market arrangement, people produce commodities so that they can obtain money to buy the commodities that they need.