In the excerpt from Logan and Molotch’s book, Urban Fortunes, Logan and Molotch talk about the “use values” and the “exchange values” of places. Write about a case in which the use values and exchange values of an object or a place are not the same. Choose one of the following questions if you need further assistance in thinking about what to write:
- Do you possess an object that has a unique use value for you (for example, a sentimental attachment, or a function that is particularly valuable to you) that is not reflected by a greater exchange value? In other words, do you possess objects that wouldn’t be worth selling on Ebay, because their value to you is greater than the objective, monetary worth that they would draw in an open market?
- What are the use values that your neighborhood holds for you? What are the exchange values that it holds for others? If you owned your apartment or house, and were going to sell it, are there qualities of the property that would be difficult or impossible to ‘put a price on’?