Does commodification of thing change the way we think of it

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COMMODIFICATION, OR HOW FREE SHOULD FREE MARKETS BE? Although Smith argued that everyone should be left free to buy and sell whatever they want in markets that are free of any government intervention, many have countered that government should be allowed to set limits on what is bought and sold in markets. The word “commodifica- tion” was coined by those who suggest that not everything should be turned into a marketable commodity. To “commodify” something is to treat it as, or turn it into, an item that can be bought and sold (a commodity). Should we be free to commodify whatever we want? For example, many people would like the U.S. government to allow the open sale of sexual intimacies, but since selling sex is illegal in all states but Nevada, sex workers secretly market their services online and in the Yellow Pages as escorts. Others would like the gov- ernment to allow people to freely buy and sell hard drugs (cocaine and heroin) as do Spain, Mexico, Portugal, and Italy.

1. Does commodification of a thing change the way we think of it? Is there anything that should not be commodified? Why or why not?

2. Explain why expanding the free market is a good, or a bad idea. What would John Locke and Adam Smith say about your explanation?

Reference no: EM132120158

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