ANT378H1 Lecture Notes - Lecture 4: Fungibility, Labour Power, Co-Creation
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Doesn"t account for varied values within a single culture. Limits cultures as bounded; doesn"t account for people from mixed backgrounds or mixture of cultures. Does not account for disconnect between personal/meaningful value assigned to things and what market considers to be valuable/how valuable: regimes of value arjun appadurai (1949-present) Value realized through exchange; not inherent to commodity. Value is never an inherent property of objects, but is a judgment made about them by subjects economic objects circulate in different regimes of value in space and time . Commodities move through different cultural frameworks; high personal value does not assume high market value. E. g. , even money passes through regimes of value; depending on where it came from and how its value can differ; less fungible than expected: use value vs. exchange value. Use value: utility inherent in the item/commodity. Exchange value: market price: labour theory of value.
