Commodity value its commodity value. A commodity value expressed as a price is determined by historical, social and cultural aspects of production and distribution. Karl Marx described price as the money-name for the labour realised in a commodity. A commodity value is dependent on its utility. Commodity value is of particular significance in the study of currency. For example, the commodity value of a coin is the value of the metal of which it is made. Gold and silver coins have a high commodity value, whereas fiat coins such as modern day quarters have a low commodity value. This is of particular
Commodity form theory buyers and sellers. Contract is both logically the central legal premise on which all other aspects of law are based, and also the highest form of expression of the commodity owning subject. This is because it is the relations of contract that are crucial for commodity production society since the contract is the necessary legal expression of commodity owners' ability to use their commodities in the market. For Pashukanis, all other forms of legal relations in capitalism flow from this. The commodity form of exchange historically precedes the legal system which emerges from it. But it is not merely that