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Karl Polanyi's "Fictitious Commodities"

Hi,

I am actually not too sure if I am posting this where this post should belong, so forgive me.

Okay. I have been studying Karl Polanyi's 1944 Great Transformation and I am up to Chapter 6, namely "The Self-Regulating Market and the Fictitious Commodities: Labor, Land and Money (LLM). In this reading, I understand that he points out that LLM are his concept of fictitious commodities. However, my question is, what makes them fictitious as he argues that they are not "true commodities" because true commodities are things that are produced for sale on the market. If I take this definition to be the separation between fictitious and true, then land is fictitious, no questions asked. However, Labour and Money is still a mystery to me.

Lastly, to what extent does the nature of the commodity traded in a market affect the character of that market and its regulation? I am more or less stuck at this question, though I believe I am overthinking. As this question was brought up in relation to Chapter 6, I believe it is asking the difference in effect on the market and its regulation between trading a fictitious commodity and a true commodity.

Any help would be greatly appreciated.

Cheers

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