And speaking of dictionaries and definitions I found this useful definition at Paulitics Marx English Dictionary;
Use Value:
-the power of something to satisfy a human need/desire (eg.: food satisfies hunger)
-use value …exchange value (which is how much $$ you can get for something)
-an umbrella’s exchange value may equal a dinner’s, but their use values are never equal (unless of course you have, for instance, a very large steak that you can also use to protect yourself form the rain)
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Isn't this just a roundabout way of saying "utility"?
ReplyDeleteAs in utilitarian or public...utility
ReplyDeleteUtilitarian and utility in terms of microeconomics.
ReplyDeleteHmm it put me as anonymous. Strange.
ReplyDeleteBlogger buggers up today it was crashing when I was trying to load up. Use Value is both a Macro and Micro economic term and has to be seen in the context of Exchange Values and surplus value. A use value is actually a reference to an earlier form of exchange, which is the basis of barter and the gift economy.
ReplyDelete