But I claim that this isn't true. Mike Jordan wearing the Nikes determines the amount of value attributed to them in the marketplace. Not the amount of sweatshop labour that economic processes had dictated go into the shoes.
*************************** Value is determined by the socially necessary/average labour time. Price usually fluctuates around value and is dependent on supply and demand. Jordan's wearing endorsement creates a greater demand in the marketplace for his endorsed commodities. You could and probably do have two or more pairs of sneakers made in China with 2 minutes of socially necessary labour time in them and thus with the same value and different prices dependent on whether Mike J says he wears brand A as opposed to the crummy brand B. On average though, sneakers with the same value will sell for a very similar price as long their supply remains equal and demand remains steady. There is both a use-value and an exchange value (SNLT) in a commodity. The use-value is determined in the eye of the beholder/buyer. It's the driver of demand. I may see little or no use-value in obtaining Jordan sneakers, while Mary may drool over the thought of purchasing a pair. Therein can lie a
yawning gap in price.
Mike B)
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