I used the audiobook, and it seemed like he just repeatedly talked about commodity value and how it is initially generated through a combination of the use value and labor value of the commodity being produced, but once it exists and is traded as a commodity the importance of use value is diminished. The commodity value takes over and it can be traded at much higher values than its actual labor value would otherwise dictate.
I think, anyway.
I'm still not sure why he takes so long to describe that, but maybe I zoned out and missed more than I thought I did.
Use value is the utility of a product, and isn't tied to a money value. The exchange value is what is eventually represented through money value. That's the whole "10 yards of linen for a coat" exchange is morphed into "10 yards of linen bought for money and that money then spent on a coat."
I used the audiobook, and it seemed like he just repeatedly talked about commodity value and how it is initially generated through a combination of the use value and labor value of the commodity being produced, but once it exists and is traded as a commodity the importance of use value is diminished. The commodity value takes over and it can be traded at much higher values than its actual labor value would otherwise dictate.
I think, anyway.
I'm still not sure why he takes so long to describe that, but maybe I zoned out and missed more than I thought I did.
Yeah that it's pretty tight summary. What determines something's actual use value?
Use value is the utility of a product, and isn't tied to a money value. The exchange value is what is eventually represented through money value. That's the whole "10 yards of linen for a coat" exchange is morphed into "10 yards of linen bought for money and that money then spent on a coat."