Abstract
Jean Baudrillard’s concept of “symbolic exchange” represents an important concept in understanding why Marx’s prediction regarding the collapse of capitalism has not been realized. Baudrillard adds to the Marxian concepts of use value and exchange value, suggesting that, in today’s consumer‐oriented society, commodities take on a symbolic value that constitutes their “status” and, therefore, power. In the Western industrial societies that are “networked” into information cultures, the generation of symbolic value results from a constantly changing symbolic environment in which new demands for access to symbolic status are generated. Baudrillard sees the United States as the farthest along on the path to a simulated environment of symbolic exchange. Manufacturing for symbolic exchange is directed toward the production of the fetish: an object that is positioned purely for its symbolic value. By directing production increasingly in the direction of the fetish, as an object to be used in symbolic exchange, capitalism is able to sustain itself even after the material needs of the population are satisfied.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
