“Fairness means not to use fraud and trickery in the exchange of commodities and services and the exchange of feelings.”

— Erich Fromm , book The Art of Loving

The Art of Loving (1956)

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Erich Fromm 119

German social psychologist and psychoanalyst 1900–1980

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“Money is a commodity … not a useless token only good for exchanging; … It differs from other commodities in being demanded mainly as a medium of exchange.”

Murray N. Rothbard book What Has Government Done to Our Money?

What Has Government Done to Our Money? (1980)

“What his vision of free commodity exchange omits are the constraints that governed the selection of particular commodities, and the political and military sanctions used to ensure the continuation of quiet asymmetrical exchanges that benefited one party while diminishing the assets of another.”

Eric Wolf (1923–1999) American anthropologist

Source: Europe and the People Without History, 1982, Chapter 11, The Movement of Commodities, p. 314.
Context: Where Adam Smith and David Ricardo had envisaged a growing worldwide division of labor, they had thought that each country would freely select the commodities it was most qualified to produce, and that each would exchange its optimal commodity for the optimal commodity of others. Thus in Ricardo's example, Britain would send Portugal its textiles, while Britons would consume Portuguese wines in turn. What his vision of free commodity exchange omits are the constraints that governed the selection of particular commodities, and the political and military sanctions used to ensure the continuation of quiet asymmetrical exchanges that benefited one party while diminishing the assets of another.

“Labour, therefore, is the real measure of the exchangeable value of all commodities”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

Source: The Wealth of Nations (1776), Book I, Chapter V.
Context: Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life. But after the division of labour has once thoroughly taken place, it is but a very small part of these with which a man's own labour can supply him. The far greater part of them he must derive from the labour of other people, and he must be rich or poor according to the quantity of that labour which he can command, or which he can afford to purchase. The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities.

“To be sure, exchange-value exerts its power in a special way in the realm of cultural goods. For in the world of commodities this realm appears to be exempted from the power of exchange, to be in an immediate relationship with the goods, and it is this appearance in turn which alone gives cultural goods their exchange-value. But they nevertheless simultaneously fall completely into the world of commodities, are produced for the market, and are aimed at the market.”

Theodor W. Adorno (1903–1969) German sociologist, philosopher and musicologist known for his critical theory of society

Source: On the Fetish Character in Music and the Regression of Listening (1938), p. 279

“Exchange, fair or unfair, always presupposes and includes the rule of the bourgeoisie.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

“It is as to whether its services or uses are to be exchanged or not which makes a tool an article of capital or merely an article of wealth. Thus, the lathe of a manufacturer used in making things which are to be exchanged is capital, while the lathe kept by a gentleman for his own amusement is not.”

Henry George book Progress and Poverty

Book I, Ch. 3
Progress and Poverty (1879)

“Capitalism is commodity production at the highest stage of development, when labor power itself becomes a commodity. The growth of internal exchange, and particularly of international exchange, is a special feature of capitalism. The uneven and spasmodic character of the development of individual enterprises, of individual branches of industry and individual countries, is inevitable under the capitalist system.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

Source: Imperialism, The Highest Stage of Capitalism (1917), Chapter Four, "The Export of Capital"

“The powers inherent in man are his intelligence and his physical capacity for work. Those which arise from the condition of society consist of the capacity to divide up labour and to distribute different jobs amongst different People … and the power to exchange mutual services and the products which constitute these means. The motive which impels a man to give his services to another is self -interest- he requires a reward for the services rendered. The right of exclusive private property is indispensable to the establishment of exchange amongst men… Exchange and division of labour reciprocally condition each other.”

Fryderyk Skarbek (1792–1866) Polish noble

Fryderyk Skarbek (1828), cited in: Karl Marx. Human Requirements and Division of Labour https://www.marxists.org/archive/marx/works/1844/manuscripts/needs.htm, Manuscript, 1844.

“Possessing utility, commodities derive their exchangeable value from two sources: from their scarcity, and from the quantity of labour required to obtain them.”

David Ricardo (1772–1823) British political economist, broker and politician

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter I, Section I, On Value, p. 5

“Admidst the colossal ruin of the country and the exhaustion of the forces of the proletariat, by a series of almost superhuman efforts, we are tackling the most difficult job: laying the foundations for really existing socialist economy, for the regular exchange of commodities (or, more correctly, exchange of products) between industry and agriculture.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

1920s

“Fairness means not to use fraud and trickery in the exchange of commodities and services and the exchange of feelings.”

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Erich Fromm 119

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