Commodity Fetishism

    0
    983

    In News

    In modern society, Commodity Fetishism  is accentuated by the use of brand names over quality or use-value of the product.

    About Commodity Fetishism

    • Introduced in the first chapter of Karl Marx’s most ambitious project, Das Kapital, or Capital: A Critique of Political Economy,
      • He applied his analysis of commodities in capitalism to society as a whole through the concept of commodity fetishism. 
    • The term describes how the social relationships of production and exchange among people take the form of relationships between things (money and commodities) under capitalism.
    • The term fetishism in anthropology refers to the belief among indigenous cultures of inanimate objects (such as totems) possessing godly or mystical powers. 
    • Marx separates the religious connotation of the term and uses it to understand how commodities possess mystical powers once in the market as it severs ties with the production process.

    Source:TH