i assume commodities to be a universal cultural phenomenon. Their existence is a concomitant of the existence of transactions that involve the exchange of things (objects and services), exchange being a universal feature of human social life and, according to some theorists, at the very core of it (see, for example, Homans 1 961; Ekeh 1 974; and Kapferer 1 976). Where societies differ is in the ways commoditization as a special expression of exchange is structured and related to the social system, in the factors that encourage or contain it, in thelong-term tendencies for it to expand or stabilize, and in the cultural and ideological premises that suffuse its workings. What, then, makes a thing a commodity? A commodity is a thing that has use value and that can be exchanged in a discrete transaction for a counterpart, the very fact of exchange indicating that the counterpart has, in the immediate context, an equivalent value.