commodify

verb
com·​mod·​i·​fy | \kə-ˈmä-də-ˌfī \
commodified; commodifying

Definition of commodify 

transitive verb

: to turn (something, such as an intrinsic value or a work of art) into a commodity attempts to commodify the water supply

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Other Words from commodify

commodification \ kə-​ˌmä-​də-​fə-​ˈkā-​shən \ noun

Examples of commodify in a Sentence

Do we really want to commodify our water supply? I feel like our culture is being commodified.

Recent Examples on the Web

Van Donna describes herself as a pop artist, but where Andy Warhol created pop art to commodify the ordinary, Van Donna uses its techniques to explore themes like romance and luxury. Meagan Fredette, refinery29.com, "Say It With Art: Get Your Bae The Same Painting Prince Harry Gave Meghan Markle," 7 July 2018 Suddenly, every slur, insult, and caricature seems like a golden opportunity to commodify and profit from the most repellent sound bites. Sonia K. Katyal, BostonGlobe.com, "The sudden rush of vulgar trademarks," 23 June 2018 The movie business can’t be allowed to commodify diversity for its own ends. Alissa Wilkinson, Vox, "The real reason we need more diversity in film criticism," 22 June 2018 Three women who have filed lawsuits in different states charge that surrogacy contracts are exploitative to birth mothers, create a class of women as breeders and commodify children. Paige Winfield Cunningham, Washington Post, "The Health 202: There's a fight brewing between the Trump administration and drugmakers," 17 May 2018 Selfies can skew gendered power dynamics by allowing women to commodify what they've been taught is their only value—their appearance. Alicia Swiz, Chicago Reader, "Could the selfie smash the patriarchy?," 10 Jan. 2018 In effect, then, men define, imprison, commodify and erase women. Joan Frank, San Francisco Chronicle, "‘The Vanishing Princess: Stories,’ by Jenny Diski," 28 Dec. 2017 The rise of China and other emerging economies, combined with newfangled technological developments like big data, the Internet of things, platform economies, A.I., and automation are combining to flatten and commodify traditional back-end defenses. Andrew Nusca, Fortune, "Fortune's 2018 Business by Design List," 22 Dec. 2017 But with the end of the shuttle program in 2011, and NASA under threat of severe cuts from the Trump Administration, the wonder of space is under attack from those who would commodify it. Michelle Legro, Longreads, "The Engineers Who Can’t Quit Voyager," 7 Aug. 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'commodify.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of commodify

1976, in the meaning defined above

History and Etymology for commodify

see commodity

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Time Traveler for commodify

The first known use of commodify was in 1976

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More Definitions for commodify

commodification

noun

Financial Definition of commodification

What It Is

Commodification refers to a good or service becoming indistinguishable from similar products.

How It Works

To be considered a commodity, an item must satisfy three conditions: 1) it must be standardized and, for agricultural and industrial commodities, in a "raw" state; 2) it must be usable upon delivery; and 3) its price must vary enough to justify creating a market for it.

Most people understand commoditization pertaining to corn, soybeans, cotton, or other raw materials (i.e., the idea that "it's all the same."), but financial instruments can be commoditized, too.

For example, in the past, every mortgage issued was considered unique -- that is, the terms and conditions of the loans were customized to the borrower and the property. Over time, however, the Federal National Mortgage Association (Fannie Mae) Mac), and the Government National Mortgage Association (GNMA) commoditized mortgages by offering to buy almost any mortgage that met a set of conforming standards. By creating a massive market for mortgages, these agencies encouraged banks to streamline and standardize the types of mortgages they offer to consumers.  Therefore, commodification is present in mortgages today.

Why It Matters

Commodification makes an asset easier to trade makes the market more liquid. In some cases, this can add volatility to the price of the commoditized entity, but in other cases it can spur economic activity.

In the mortgage industry, commodification allows lenders to receive cash from selling conforming mortgages to government agencies and government-sponsored entities. Banks can then use the cash to issue more loans, which theoretically spurs economic growth.

Source: Investing Answers

commodify

verb

English Language Learners Definition of commodify

: to treat (something that cannot be owned or that everyone has a right to) like a product that can be bought and sold

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