Who discovered the THESIS that money canNOT measure the WORTH of a commodity.

http://m.sparknotes.com/philosophy/marx/Karl Marx (1818–1883)

Summary, Volume I: Parts I, II

 

COMMODITIES, THE LABOR THEORY OF VALUE AND CAPITAL1507977623591-2043988690-1735341623.jpg
 The  theory itself explains that

commodities have a social dimension because their exchange value is not intrinsic to them as objects but instead depends on the society’s entire division of labor and system of economic interdependence, in which different people produce different products for sale on a common market1507973471814-20439886901648723863.jpg

Marx asks question of where this value comes from. Then he further elaborates that commodity has “value” in a market.

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. So for short Commodity refers to a raw material or primary agricultural product that can be bought and sold, such as copper or coffee.1507973549017-1752372297-1401255029.jpg

You can also refer to “Fetishism of Commodities.” Marx’s Commodity Fetishism and Theory of Value.1507977802214-17523722971648723863.jpg

Introduction; Commodity fetishism is the process of ascribing magic “phantom-like” qualities to an object, whereby the human labour required to make that object is lost once the object is associated with a monetary value for exchange.1507973671160-148259223-1818484894.jpg

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Hope you find something new here , and of course you can leave a comment below for us to assess your question.

***Keywords: Commodity,Fetishism,intrinsic

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