Marx

Section 1

Marx speaks of use-value and exchange-value of a commodity, this commodity is something that meets a human want or need. The exchange value is how the object is acquired, he uses the examples of iron and corn.  There will always be an equation for how much to exchange corn for iron. These two aspects of commodities are separate but also always connected and will always be intertwined.  The exchange value of a commodity is merely an expression of its value, this is what connects all commodities so that they can all be exchanged with each other.  Marx also explains that the value of a commodity does not remain consistent as it evolves, advances or varies in labor productivity.  But the value of the object must meet the requirement of the need for use value or the commodity will be worthless.  So as long as an object holds use vale therefore it, produced in quantity, will hold a value within society.

Section 2

There is a relationship between the labor to create the commodity and the value of it. There is a correlation between the labor and the value, so if the labor is increased to create something the value will then have to increase to meet the labor cost. Different types of labor create different kinds of use values.

Section 4

In a capitalist society the values of commodities are studied by political economists, they take information and see how much money was generated by a specific commodity. These people do not look at the value as something completely independent from the social labor that originally determined the value of the object.  This process is called fetishism, where objects are imagined to dictate the social activities that produce them. Marx compared the creation of these products as a manufacturing of something to fill a void.  These objects are seen like a deity that fulfill a desire within their lives that is not filled by a sense of community or family. It is not until commodities enter into an exchange do thy create a relation to another commodity.  Once in an exchange, commodities values are determined by the amount of the socially useful labor-time put into them.  In the reading the example of diamonds and quarts, it is harder and takes more time to mine a diamond then it does to mind quartz, so in this relationship diamonds cost more then quartz.  when the worker no longer owns the means to production they no longer have access to the knowledge of how much work was taken to produce the product.  So now the value is changed to something off of a mystical value rather then a labor related value.


Chapter 3
Section 1

There are two sides to the process of labor. On the first side is the the buyer and on the other is the worker or producer.  The buyer purchases from the worker, and the worker receives a wage for his labors.  Labor has become one in the object, the worker who has put effort to create the object had been transferred to the object, giving it value. The capitalist owns everything in the production process they are free to sell for their own profit.  The goal is not to sell only use value products but a commidity.

Surplus
The goal is to create surplus to create a  profit from the commodity.