Definition, Meaning & Synonyms
commodification
noun
kuh-mod-i-fi-kay-shun
Definition
The process of turning something that is not a product into a commodity or an item for sale.
Examples
- The commodification of education has raised concerns about the quality and accessibility of learning.
- When art becomes a mere product for sale, its intrinsic value suffers due to commodification.
Meaning
Commodification refers to the transformation of goods, services, ideas, or even people into items that can be bought, sold, or traded in the market. This often involves giving a monetary value to aspects of life that traditionally may not have been considered as goods.
Synonyms
- marketization
- commercialization
- capitalization
