commodification
commodification
English Definitions:
commodification (Noun)
The assignment of a commercial value to something previously valueless.
Commodification
Commodification is the transformation of goods and services, as well as ideas or other entities that normally may not be considered goods, into a commodity. The Marxist understanding of commodity is distinct from the meaning of commodity in mainstream business theory. Commodity played a key role throughout Marx's oeuvre, he considered it a cell-form of capitalism and a key starting point for an analysis of this politico-economic system. The earliest use of the word commodification in English attested in the Oxford English Dictionary dates from 1975. Use of the concept of commodification became common with the rise of critical discourse analysis in semiotics.
Commodification
Within a capitalist economic system, commodification is the transformation of things such as goods, services, ideas, nature, personal information, people or animals into objects of trade or commodities. A commodity at its most basic, according to Arjun Appadurai, is "anything intended for exchange," or any object of economic value.Commodification is often criticized on the grounds that some things ought not to be treated as commodities—for example, water, education, data, information, knowledge, human life, and animal life.
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