Karl Polanyi’s analysis of the commodification process under capitalism in The Great Transformation (1944) provides us with a profound and perceptive understanding of how society as a whole becomes subordinate to the market, even to the degree that it faces the danger of annihilation. This threat posed by the market, to make the society an “appendage” to the market also represents a violation of the human essence, conceived in an Aristotelian way as the “political animal”. This chapter deals with commodification as a continuous process within which everything, produced or not, including human beings, or more accurately their agency or transformative capacities and powers, is transformed into commodities, rather than as a state characterized by the three “fictitious commodities”, labour, land and money. In other words, commodification will transform every human aspect and quality into abstract, functional units that are necessary for the working of the market institution. It is believed that the terms “extension of the market” (Polanyi), “commodity fetishism” (Marx), and “reification” (Lukács), all refer to the same process. The market system continuously extends its boundaries into every sphere of life, down to the most basic ingredients of human existence, from family to science, to “commodify” them. In other words, it is contended, Marx’s conception of commodification would be a nice addition to that of Polanyi’s for two reasons. First, whereas Polanyi seems to restrict commodification with the three commodity fictions even if he shows in a masterful way that this process does not stop at the creation of these fictions and it continues until it includes all aspects of human lives, Marx considers it as an inclusive social and economic process that eventually causes human existence to become “subsumed” by capital as a social relation. Second, whereas Polanyi seems comfortable with a theory of price determination emphasizing demand and supply, such as the neoclassical utility theory of value and price determination, Marx’s (or the classical school’s in general) labour theory of value, which forms the foundations upon which the notion of commodity fetishism is built, has the capacity to “demystify” exchange relations, and thus to show how human properties are “negated” or violated.