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DATED.
Last seen on: –Mirror Quick Crossword January 21 2023
Mirror Quick Crossword January 21 2023
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Within a capitalist economic system, commodification is the transformation of things such as goods, services, ideas, nature, personal information, people or animals into objects of trade or commodities. A commodity at its most basic, according to Arjun Appadurai, is “anything intended for exchange,” or any object of economic value.
Commodification is often criticized on the grounds that some things ought not to be treated as commodities—for example, water, education, data, information, knowledge, human life, and animal life.
The earliest use of the word commodification in English attested in the Oxford English Dictionary dates from 1975. Use of the concept of commodification became common with the rise of critical discourse analysis in semiotics.
The terms commodification and commoditization are sometimes used synonymously, particularly in the sense of this article, to describe the process of making commodities out of anything that used not to be available for trade previously; compare anthropology usage.