Sunday, June 17, 2018

Value and Expending

In most of contemporary Economics, the three types of Value attributed to a commodity are Labor, Exchange, and Use, with Marginal Utility a modification of the latter.  Now, a fourth, derived, as has been previously discussed, from Will to Power, is Expending, i. e. the Value of a commodity insofar as it serves as an outlet for spending.  In many cases, e. g. when the commodity would fulfill a vital need, Expending Value is a minimal factor in the exchange.  But, it becomes prominent on occasions when money is characterized as 'burning a hole in one's pocket', and, more temperately, during recreational shopping.  Thus, Expending Value explains the attraction of a commodity when there are disposable assets available.  Accordingly, it presents a challenge to the generally accepted thesis that the value of wealth consists in the potential enjoyment of affordable luxury commodities.  For, it implies that there is an enjoyment in the act itself of purchasing such items, i. e. a feeling of power.  On that basis, Wealth is objectified Purchase Power, and the display of it aims to express such Power, not the possessions in which it is expressed.

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