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Proportion of worth at which a commodity can be traded for other commodities
In political economy and especially Marxian economics, exchange value (German: Tauschwert) refers to one of the four major attributes of a commodity, i
Exchange_value
Benefit provided by a good or service in an economy
use and value in exchange. Value is linked to price through the mechanism of exchange. When an economist observes an exchange, two important value functions
Value_(economics)
Theory in classical and Marxian economics
capitalism. Smith argued that a commodity's value was determined by the amount of labor it could command in exchange, while also suggesting that in primitive
Labor_theory_of_value
How well a commodity fulfills human purposes
economy, any commodity has an exchange-value and is a use-value — the former manifestly appearing as exchange-value in any exchange-relation in which bearers
Use_value
Concept in Karl Marx's critique of political economy
the fluctuating exchange value of commodities (exchangeable products) is regulated by their value, where the magnitude of their value is determined by
Law_of_value
Concept in Marxist theory
critique of political economy, the value-form is the social form that wealth takes in a society where commodity exchange is the dominant mode of production
Value-form
Global decentralized trading of international currencies
foreign exchange markets averaged US$9.6 trillion per day in April 2025, up from US$7.5 trillion in 2022. Measured by value, foreign exchange swaps were
Foreign_exchange_market
Short story by Charles R. Johnson
"Exchange Value" (1981) is a short story by American writer Charles R. Johnson. Set in Chicago, where Johnson himself lived for a time, this story addresses
Exchange_Value
Exchange rate regime where a currency's value is fixed against another value
A fixed exchange rate, often called a pegged exchange rate or pegging, is a type of exchange rate regime in which a currency's value is fixed, or pegged
Fixed_exchange_rate_system
School of economic thought
use-value and exchange-value. Use-value is the usefulness of a commodity. Exchange-value is the proportion by which use-values of one kind are exchanged for
Marxian_economics
Three-volume work by Karl Marx, 1867–1894
relations are mediated by commodity exchange. He posits a labour theory of value, contending that the economic value of a commodity is determined by the
Das_Kapital
Concept in economics
of a surplus-value or profit. It is true that Marx argues no net additions to value can be created through acts of exchange, economic value being an attribute
Surplus_value
Amount of time performed by an average worker to produce a given commodity
time in Marx's critique of political economy is what regulates the exchange value of commodities in trade. In short, socially necessary labour time refers
Socially necessary labour time
Socially_necessary_labour_time
Philosophical concept
proposed the theory of sign value as a philosophic and economic counterpart to the dichotomy of exchange-value vs. use-value, which Karl Marx recognized
Sign_value
Systematic study of values
between use value—the utility or satisfaction a commodity provides—and exchange value—the proportion at which one commodity can be exchanged with another
Value_theory
Fungible item produced to satisfy wants or needs
commodities. Accordingly, in addition to having use value, commodities must have an "exchange value"—a value that could be expressed in the market. Prior to
Commodity
Current worth of a future sum discounted to today
sacrificed the exchange value of this money, and is compensated for it in the form of interest. The initial amount of borrowed funds (the present value) is less
Present_value
School of Marxism aligned with humanist philosophies
has a dual nature: use-value (its utility) and exchange-value (its value in the market). Exchange-value is determined by the amount of socially necessary
Marxist_humanism
Contradiction between utility and price
called "value in use;" the other, "value in exchange." The things which have the greatest value in use have frequently little or no value in exchange; on
Paradox_of_value
financial value to an asset such as reputation. The theme of value conversion also runs through social exchange theory and more classical views of exchange value
Value_conversion
Stated value or face value of a financial instrument
accounting, par value means stated value or face value of a financial instrument. Expressions derived from this term include at par (equal to par value), above
Par_value
Currency value as determined by foreign market events
floating exchange rate (also known as a fluctuating or flexible exchange rate) is a type of exchange rate regime in which a currency's value is allowed
Floating_exchange_rate
Economic price theory
theorem claims that at a point in time there was a good with exchange value based on the value of it as a commodity (i.e. silver, gold, etc.), which led
Regression_theorem
Distinction made by Karl Marx
it produces use values. ... At first sight a commodity presented itself to us as a complex of two things – use value and exchange value. Later on, we saw
Abstract_and_concrete_labour
Rate at which one currency will be exchanged for another
The exchange rate is also regarded as the value of one country's currency in relation to another currency. For example, an interbank exchange rate of
Exchange_rate
Subject of a trade or other exchange
susceptible to economisation. A commodity also has a use value and an exchange value. It has a use value because, by its intrinsic characteristics, it can satisfy
Article_of_commerce
Currency of Egypt
Egyptian and Turkish units split from each other in value, with the Egyptian unit continuing its exchange value of 97.5 piastres to the pound sterling. In 1885
Egyptian_pound
2025 film by Joachim Trier
Sentimental Value (Norwegian: Affeksjonsverdi) is a 2025 drama film directed by Joachim Trier, who co-wrote it with Eskil Vogt. It follows sisters Nora
Sentimental_Value
Iranian stock exchange
products on the exchange for as long as they meet the listing criteria. The value of three markets of Securities and Stock Exchange, Over-the-Counter
Tehran_Stock_Exchange
Investment fund traded on stock exchanges
close to its net asset value, although deviations can occur. ETFs that invest in commodities are generally structured as exchange-traded grantor trusts
Exchange-traded_fund
Inputs used in the production of goods and services with economic value
distributors; or the means of production, distribution, and exchange, which further include the exchange of distributed products, generally to consumers. The
Means_of_production
Method by which value is transferred between parties
bartered be of equivalent value. A medium of exchange is able to be subdivided into small enough units to approximate the value of any good or service.
Medium_of_exchange
Index describing the strength of a currency relative to a basket of other currencies
as the ratio of the "normalized Exchange Value of Currency i against the US dollar" to the normalized exchange value of the "benchmark currency basket"
Effective_exchange_rate
Pricing problem in Marxism
relation between the value and the price of the good in the first volume, arguing that in the abstraction of labor value from exchange value to price of production
Transformation_problem
intrinsic value (commodity money), be legally exchangeable for something with intrinsic value (representative money), or have only nominal value (fiat money)
History_of_money
Type of contract
was held to be a sale, because a monetary value was assigned to the item being exchanged (23 bullocks, valued at £192), and cash then used to make up the
Part_exchange
Process where unique economic goods become interchangeable in the eyes of consumers
commodification, which is the concept of objects or services being assigned an exchange value which they did not previously possess by their being produced and presented
Commoditization
Monetary system based on the value of gold
exchangeability of huge amounts of legacy silver coins into gold at the fixed rate (rather than valuing publicly held silver at its depreciated value)
Gold_standard
Investment paradigm
Value investing is an investment paradigm that involves buying securities that appear underpriced by some form of fundamental analysis. Modern value investing
Value_investing
Work by Karl Marx, written 1857–1858
between value, exchange-value, and use-value. Similarly, while the Grundrisse contains the first full elaboration of the concept of surplus value, its presentation
Grundrisse
Reconciliation of two opposing forces in a society
potential exchange-value. The shoes are commodities that can be sold for cash. In this way, the value of the labor of the worker is the exchange-value of the
Mediation (Marxist theory and media studies)
Mediation_(Marxist_theory_and_media_studies)
Standardization of money
Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies
Currency
Korean stock market index
KOS) are traded on the Korean Futures Exchange. Contracts are quoted in index points with each contract size valued at 250,000 index points. CQG contract
KOSPI
Belgian-born French feminist, philosopher
exchange value is determined by society, while her use value is her natural qualities. Thus, a woman’s self is divided between her use and exchange values
Luce_Irigaray
Object or record accepted as payment
primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money
Money
Personal value, basis for ethical action
the personal philosophic value of possessing something exceeds the personal philosophic value of what is given up in exchange for it, e.g. money. In this
Value_(ethics)
precedence of capitalist value to regulate social values including the exchange value in wages and profit by making the value of reproductive labor visible[vague]
Marxist_feminism
Marxian economy centered around use value, planning and contribution-based distribution
socialism in which the law of value no longer directs economic activity. Monetary relations in the form of exchange-value, profit, interest and wage labour
Socialist_mode_of_production
Currency of Japan
the sharp fall in its value since 2022. and Moneypost reported that the exchange rate instability had made it impossible to exchange the currency for Japanese
Japanese_yen
Money of insignificant intrinsic value
adopted in many businesses around the world as an effective way to exchange value between companies and customers. Token money as a system is predominantly
Token_money
Class of wage-earners
wage-earners, those members of a society whose possession of significant economic value is their labour power (their capacity to work). A member of such a class
Proletariat
Chess term for a series of moves in which players capture each other's pieces
equal value. If the values of the pieces exchanged are not equal, then the player who captures the higher-valued piece can be said to be up the exchange or
Exchange_(chess)
in both social exchange theory that considers the cost/benefit returns of informal exchanges and more classical views of exchange value where there is
Value_network_analysis
The Madrid Stock Exchange General Index (IGBM) is a capitalization-weighted stock market index that measures the performance of a selected number of continuous
Madrid Stock Exchange General Index
Madrid_Stock_Exchange_General_Index
Method used to eliminate foreign exchange risk
foreign currencies (see foreign exchange derivative). This is done using either the cash flow hedge or the fair value method. The accounting rules for
Foreign_exchange_hedge
Net value of an entity calculated as total value of its assets minus value of liabilities
registered with the U.S. Securities and Exchange Commission are usually bought and redeemed at their net asset value. It is also a key figure with regard
Net_asset_value
Marxist concept
yielded its value (which could be use-value or exchange-value). Similarly, Marx's specific concept refers both to the process whereby a capital value is conferred
Valorisation
Quantum mechanical effect
unchanged (for bosons) when two particles are exchanged. The exchange symmetry alters the expectation value of the distance between two indistinguishable
Exchange_interaction
Concept in Marxist analysis
goods and their underlying labour are exchanged. Through commodity fetishism, social phenomena such as market value, wages and rent are reified (attributed
Commodity_fetishism
Measure of the relative value of the US dollar
the geometric mean of the bilateral exchange rates of the included currencies. The weight assigned to the value of each currency in the calculation is
Trade-weighted US dollar index
Trade-weighted_US_dollar_index
traded companies, that have the largest market capitalization or "market value". Most or all of these companies would be categorized as megacap stocks
List of public corporations by market capitalization
List_of_public_corporations_by_market_capitalization
Capital invested in means of production
Sciences, 2004, p. 294 Steve Keen (1993). "Use-Value, Exchange Value, and the Demise of Marx's Labor Theory of Value" (PDF). Journal of the History of Economic
Constant_and_variable_capital
US body that sets national monetary policy
which has responsibility for formulating U.S. policies regarding the exchange value of the dollar. The committee consists of the seven members of the Federal
Federal_Open_Market_Committee
Reserve fund of the US Treasury Department
the ESF to use its capital to deal in gold and foreign exchange to stabilize the exchange value of the dollar. The ESF as originally designed was part
Exchange_Stabilization_Fund
Currency of China
within as little as 8% of its equilibrium value by the second half of 2012. Since 2006, the renminbi exchange rate has been allowed to float in a narrow
Renminbi
Securities trading center in Vietnam
Ho Chi Minh Stock Exchange (HOSE, HoSE, or HSX), formerly the HCMC Securities Trading Center (HoSTC), is a stock exchange in Ho Chi Minh City, Vietnam
Ho Chi Minh City Stock Exchange
Ho_Chi_Minh_City_Stock_Exchange
Direct reciprocal exchange of goods or services without the use of money
of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such
Barter
Price at which an asset would trade in a competitive auction setting
International Valuation Standards defines market value as "the estimated amount for which a property should exchange on the date of valuation between a willing
Market_value
Place where stocks are traded
new financial instruments whose pay-offs or values depend on the prices of stocks. Some examples are exchange-traded funds (ETFs), stock index and stock
Stock_market
Period of extreme inflation in Germany during 1921–1923
currency stabilised in early 1922, but then hyperinflation took off: the exchange value of the mark fell from 320 marks per dollar in mid 1922 to 7,400 marks
Hyperinflation in the Weimar Republic
Hyperinflation_in_the_Weimar_Republic
Topics referred to by the same term
dollars, pesos, etc.) which may be given international value by their exchange values in foreign exchange. Currency may also refer to: Currency, in economics
Currency_(disambiguation)
Transformation of goods, services, ideas and people into commodities or objects of trade
"specific individual use value". After becoming a commodity, that same object has a different value: the amount for which it can be exchanged for another commodity
Commodification
Foreign exchange reserves of various countries
currency. Foreign-exchange reserves is generally used to intervene in the foreign exchange market to stabilize or influence the value of a country's currency
List of countries by foreign exchange reserves
List_of_countries_by_foreign_exchange_reserves
Overview of and topical guide to Marxism
capital Variable capital Surplus value Surplus labour Surplus product Law of value Commodity Value form Use value Exchange value Social class / Marxian class
Outline_of_Marxism
Literary work by Karl Marx
Value, Price and Profit — also widely published in English under the title Wages, Price and Profit — is a short book by Karl Marx first delivered in English
Value,_Price_and_Profit
American exchange and clearing house company
Intercontinental Exchange, Inc. (ICE) is an American multinational financial services company that operates global financial exchanges, including stock exchanges and
Intercontinental_Exchange
British stock market index
the FT involved in the official launch possessed value. The new index allowed the Stock Exchange's own London Traded Options Market (LTOM) to launch
FTSE_100_Index
Foreign exchange market
calculated as a ratio of the normalized exchange value of currency against the US dollar to the normalized exchange value of the benchmark currency basket against
Effective_exchange_rate_index
Monetary policy relating to currency exchange rates
Fixed (or pegged) exchange rate regimes exist when a country sets the value of its home currency directly proportional to the value of another currency
Exchange_rate_regime
German school of Marxist theory
Kurz's essay "The Crisis of Exchange Value" (Die Krise des Tauschwerts), which has been described as "the founding document of value-critique". This essay laid
Wertkritik
Official lowering of the value of a currency
lowering of the value of a country's currency within a fixed exchange rate system, in which a monetary authority formally sets a lower exchange rate of the
Devaluation
Point-based valuation system for chess pieces
fair exchange if one can ensure the capture of three or more pawns in return. But valuation systems provide only a rough guide; a piece's true value can
Chess_piece_relative_value
authorities. Originally designed as a medium of exchange, Bitcoin is now primarily regarded as a store of value. The history of bitcoin started with its invention
History_of_bitcoin
Stock exchange in Shanghai, China
The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently
Shanghai_Stock_Exchange
Theory of natural law
the act of labor or improving the use value of property, but rather is focused on the creation of exchange value as the basis of property. For one thing
Labor_theory_of_property
Economic system based on private ownership
for exchange on a market; to maximize exchange-value instead of use-value. Exchange of goods or services, can be enabled by contracts. Exchange of services
Capitalism
Political philosophy
produce it. Under such conditions, surplus value—the difference between the value produced and the value received by a labourer—is synonymous with surplus
Marxism
Method of exchanging cryptographic keys
Diffie–Hellman (DH) key exchange is a mathematical method of securely generating a symmetric cryptographic key over a public channel and was one of the
Diffie–Hellman_key_exchange
Organization that provides services for stock brokers and traders to trade securities
A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds
Stock_exchange
Concept in economics
affects either use values or exchange values or both together. The destruction of exchange value combined with the preservation of use value presents clear
Creative_destruction
Jamaican visual artist and academic (born 1985)
region and other developing world nations face. Chedda's work Sketch for Exchange Value, in the group exhibition Insides (2015) at New Local Space (NLS) in
Camille_Chedda
1981 book by Jean Baudrillard
products for which a need is created by commercial images. Exchange value, in which the value of goods is based on money (literally denominated fiat currency)
Simulacra_and_Simulation
Standardised contract to buy or sell an asset at a future date
is reflected daily. If the margin account goes below a certain value set by the exchange, then a margin call is made and the account owner must replenish
Futures_contract
Ideology merging aspects of socialism with green politics, ecology and alter-globalization
local control of resources valorizes the Marxist concept of use value above exchange value. Practically, eco-socialists have generated various strategies
Eco-socialism
Change of currency values relative to other currencies
is the loss of value of a country's currency with respect to one or more foreign reference currencies, typically in a floating exchange rate system in
Currency appreciation and depreciation
Currency_appreciation_and_depreciation
Italian communist politician and Marxist theoretician (1889–1970)
socialism in which the law of value no longer directs economic activity. Monetary relations in the form of exchange-value, profit, interest, and wage labour
Amadeo_Bordiga
Nepalese stock exchange
dematerialized (Demat) form. Source: Nepal Stock Exchange (market values in NPR/Nepalese Rupee). Data arranged by market value. Updated on May 27 2025. Bishal Bazar
Nepal_Stock_Exchange
up to provide funding which if necessary can be used to manage the exchange value of pound sterling on international markets. The EEA was established
Exchange_Equalisation_Account
Concept in economic theory
straightforward exchange processes involved, from an economic perspective. As discussed below, both Karl Marx and Engels claimed explicitly that the law of value applied
Simple_commodity_production
240d.] Hence the rupee exchange rate was 240/15 equalled 16 d. or 1 sh. 4 d. This was its par value. It was called a silver exchange standard: rupee notes
Exchange rate history of the Indian rupee
Exchange_rate_history_of_the_Indian_rupee
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