commodification

Meanings

• noun

  The process by which goods or services are converted into commodities that can be bought and sold on a market.

  - "The commodification of water is a controversial issue."
  - "The rise of commodification in the 19th century led to the growth of industrial capitalism."

• verb

  The transformation of something into a commodity.

  - "The production of art was commodified in the modern era."
  - "The sale of human organs is a contentious issue that raises ethical questions about commodification."

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Synonyms

commercialization , commoditization

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Variants

List of all variants of commodification that leads to same result
commodification , commodifications , commodified , commodifies , commodify , commodifying

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Etymology

origin and the way in which meanings have changed throughout history.

From the Latin word 'commodus,' meaning 'useful,' and the suffix '-ification,' meaning 'making into,' this term refers to the process of making something useful or valuable by turning it into a commodity that can be bought and sold.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The first known use of the term 'commodification' in English was in the 16th century.

2. The commodification of land was a significant factor in the development of feudalism in Europe.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Capitalism: A socio-economic system that emphasizes the production and exchange of goods and services as a means of generating profit and wealth.

2. Consumerism: A cultural and economic system that encourages the purchase and consumption of goods and services in ever-increasing amounts.

3. Market economy: An economic system in which prices for goods and services are determined by supply and demand in the marketplace.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Commodification has been a significant theme in various cultural and intellectual movements, including Marxist theory, critical theory, and postmodernism. It has been critiqued for its potential to dehumanize and commodify aspects of human life, such as labor, art, and even the natural world.

How to Memorize "commodification"

1. visualize
   

   - Visualize a marketplace where goods and services are bought and sold, and imagine the process of turning something into a commodity.

2. associate
   

   - Associate the term 'commodification' with the idea of turning something into a valuable commodity that can be bought and sold.

3. mnemonics
   

   - Remember the etymology of the term: 'commodus' (useful) + '-ification' (making into).

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