The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Commodity Fetishism

  • Andrew Levine
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_532

Abstract

An analysis of Marx’s notion of ‘commodity fetishism’ – as a theory of the necessary (systemically induced) misperception of underlying production relations by participants in market exchanges. The appeal of the notion to the two main opposing tendencies of mid- and late 20th-century Marxism – Marxist humanism and structuralist Marxism – is discussed. Reasons are proposed to account for a recent decline of interest in the phenomenon among both economists and philosophers. It is suggested, however, that the concept remains viable.

Keywords

Althusser, L. Capitalism Capitalist social relations Commodity fetishism Exploitation Feuerbach, L. Invisible hand Labour power Labour theory of value Laws of motion of capitalism Lukacs, G. Market relations Marx, K. Marxist humanism Structural marxism Surplus value Value controversy 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Andrew Levine
    • 1
  1. 1.