From the Abstract to the Real: Stochastic Labor Theory of Value, Production Prices and the Problem of Transformation
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| Formato: | Recurso digital |
| Lenguaje: | ruso |
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2026
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| _version_ | 1866901887616286720 |
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| author | Zolotukhin, Alexey |
| author_facet | Zolotukhin, Alexey |
| contents | <p>The problem of the transition of costs into production prices, which was first articulated by L. Bortkevich at the beginning of the last century, continues to excite the minds of political economists around the world. A huge number of approaches to its solution have been proposed, significant intellectual effort has been expended to understand it, nevertheless, the debate continues to this day. Meanwhile, numerous empirical data indicate that the deviations of market prices from production prices are in no way less than the deviations of market prices from labor costs. The article attempts to discuss the justification for introducing the category of production prices into political economy analysis. To do this, we examine how, on the path from the abstract to the real, such a category as production prices arises, whether it is the only alternative, or, on the contrary, whether its rejection opens up a number of other approaches that eliminate the problem of the transition of values into prices. Probabilistic interpretation of the labor theory of value is discussed as an alternative to the idea of equalizing the rate of profit. A hypothesis is put forward about the existence of two opposing forces, one of which leads to the equalization of the rate of profit, and the other pushes prices towards values. An empirical test of the obtained results is made, and the volatility of the rate of profit is estimated.</p> |
| format | Recurso digital |
| id | zenodo_https___doi_org_10_5281_zenodo_19016405 |
| institution | Zenodo |
| language | rus |
| publishDate | 2026 |
| publisher | Zenodo |
| record_format | zenodo |
| spellingShingle | From the Abstract to the Real: Stochastic Labor Theory of Value, Production Prices and the Problem of Transformation Zolotukhin, Alexey transformation problem labor theory of value production prices law of value <p>The problem of the transition of costs into production prices, which was first articulated by L. Bortkevich at the beginning of the last century, continues to excite the minds of political economists around the world. A huge number of approaches to its solution have been proposed, significant intellectual effort has been expended to understand it, nevertheless, the debate continues to this day. Meanwhile, numerous empirical data indicate that the deviations of market prices from production prices are in no way less than the deviations of market prices from labor costs. The article attempts to discuss the justification for introducing the category of production prices into political economy analysis. To do this, we examine how, on the path from the abstract to the real, such a category as production prices arises, whether it is the only alternative, or, on the contrary, whether its rejection opens up a number of other approaches that eliminate the problem of the transition of values into prices. Probabilistic interpretation of the labor theory of value is discussed as an alternative to the idea of equalizing the rate of profit. A hypothesis is put forward about the existence of two opposing forces, one of which leads to the equalization of the rate of profit, and the other pushes prices towards values. An empirical test of the obtained results is made, and the volatility of the rate of profit is estimated.</p> |
| title | From the Abstract to the Real: Stochastic Labor Theory of Value, Production Prices and the Problem of Transformation |
| topic | transformation problem labor theory of value production prices law of value |
| url | https://doi.org/10.5281/zenodo.19016405 |