Disaster, Calamity becoming Commodity

In the Philippines, disasters or calamities are becoming commodity. From Government officials, media organization, philanthropies, donors organization  and much to all victims of disasters/calamities.

First, lets define commodity?

In Your Dictionary Website  website commodity define as something that can be traded, or any useful thing. In what us Commodity website simply define commodities as products which are traded across different markets and are of uniform quality. There are two types of commodities: “soft commodities” and “hard commodities.” Hard commodities are those that have a long shelf life, such as oil, silver, gold, ore and iron. Soft commodities have a limited shelf life, such as corn, soybean, rice, wheat and coffee.

Further, lets look for more definitions, so that we can understand and help us in understanding why i said that disaster becoming commodity.

Mr./Ms. Wikipedia explained.

In economics, a commodity is a marketable item produced to satisfy wants or needs. Economic commodities comprise goods and services.

The more specific meaning of the term commodity is applied to goods only. It is used to describe a class of goods for which there is demand, but which is supplied without qualitative differentiation across a market.

A commodity has full or partial fungibility; that is, the market treats its instances as equivalent or nearly so with no regard to who produced them.

Karl Marx on commodity– 

commodity is any good or service (“products” of “activities”) produced by human labour and offered as a product for general sale on the market. Some other priced goods are also treated as commodities, e.g. human labor-power, works of art and natural resources, even although they may not be produced specifically for the market, or be non-reproducible goods.

Marx’s analysis of the commodity (in German: Kaufware, i.e. merchandise, ware for sale) is intended to help solve the problem of what establishes the economic value of goods, using the labor theory of value. This problem was extensively debated by Adam Smith, David Ricardo and Karl Rodbertus-Jagetzow among others. Value and price are not equivalent terms in economics, and theorising the specific relationship of value to market price has been a challenge for both liberal and Marxist  (Source: Wikipedia)


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