Use value or value in use is the utility of consuming a good; the want-satisfying power of a good or service in classical political economy. In Marx's critique of political economy, any labor-product has a value and a use-value, and if it is traded as a commodity in markets, it additionally has an exchange value, most often expressed as a money-price. Marx acknowledges that commodities being traded also have a general utility, implied by the fact that people want them, but he argues that this by itself tells us nothing about the specific character of the economy in which they are produced and sold.
Read more about Use Value: Origin of The Concept, How Marx Defines Use Value, Transformation of A Use Value Into A Commodity, The Role of Use Value in Political Economy, Use Value and Utility, Indifferent To Use Value?
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