You're right on the mark. Use value does contain a subjective element. In matters of fashion, subjectivity becomes almost dominant. Think about how used blue jeans took on more market value than new jeans.
Think about the role of advertising, which builds up the subjective value of goods. Soon after you buy the good, you are told that you need the new, improved version -- that the junk you bought is obsolete. Then think about what it means to build up a theory based on people's opinions and then call it science. On Wed, Jun 07, 2006 at 10:52:06PM +0100, mds wrote: > > As a followup query: if we posit that a product of labour can lose > commodity status through loss of demand, would a clothes manufacturer > whose fashions became defunct no longer produce commodities? (Assuming > zero demand, even for a short period). > > Surely, irrespective of demand, a coat is still a coat, and therefore > embodies a certain utility? > > Now imagine: fashions change and demand returns. Do these garments > suddenly re-acquire use-value, or is our focus misplaced? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
