The Labor Theory of Value and Optimal Planning
In accordance with the principles of the economic reform being implemented in the USSR, the principal index employed in evaluating the performance of an enterprise is profitability âprofit relative to productive capital. The entire system of material incentives to the personnel of an enterprise is being designed according to this index. Inasmuch as the results of production, as well as expenditures, profits, and productive capital are all expressed in monetary form, the index of profitability depends upon the system of prices. The function of prices is to stimulate each enterprise to work with maximum profitability in the interests of society. The foregoing pertains not only to enterprises in operation but to those planned, and therefore price is called upon to play an analogous role in technical and economic calculations as well.
Year of publication: |
1967
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Authors: | Postyshev, A. |
Published in: |
Problems of Economic Transition. - M.E. Sharpe, Inc., ISSN 1061-1991. - Vol. 10.1967, 8, p. 3-15
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Publisher: |
M.E. Sharpe, Inc. |
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