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commodification, commoditization Within Marxist theory this refers to the production of commodities for exchange (via the market) as opposed to direct use by the producer. It signals the conversion of use-values into exchange-values and heralds a change in production relations. In conventional terms it can be described as the process whereby goods and services which were formerly used for subsistence purposes are bought and sold in the market. These terms are widely used in Third World studies, for example, when subsistence peasants begin to sell their produce for cash. See also COMMODITY FETISHISM.

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