Question
What is 'commodification'? Explain with examples.
Solution
Commodification:
- Commodification occurs when things that were earlier not traded in the market
become commodities. For instance, labour or skills become things that can be bought and sold. - According to Marx and other critics of capitalism, the process of commodification has negative social effects. For example: commodification of labour.
- In earlier times, human beings themselves were bought and sold as slaves, but today it is considered immoral to treat people as commodities.
- Traditionally, marriages were arranged by families, but now there are professional marriage bureaus and websites that help people to find brides and grooms for a fee.
