February 20, 2024
What is a commodity? On the face of it, simply an object. Marx pointed out however that it is really ‘a very queer thing indeed, full of metaphysical subtleties and theological whimsies’. A commodity like rubber on the one hand contains all sorts of useful, non-reducible physical properties, and on the other, within a capitalist economy, is just the equivalent of a given quantity of money; it contains an abstract exchange value of a definite amount. Moreover, the individual commodity contains within itself all the natural and social processes which brought it into being as a discrete product, from the growth, in this case, of the rubber-producing tree, to its harvesting, transport and manufacture into commercial rubber.