Worth or Value – G. Bakalov versus D. Blagoev

In the early twentieth century in Bulgaria Dimitar Blagoev and Georgi Bakalov translated K. Marx’s “Capital”, while for the key concepts in this monumental work they use two different series of terms. Blagoev used series – worth, customer worth, exchange worth, surplus worth, etc. Georgi Bakalov used series – value, customer value, exchange value, surplus value, etc. There was a debate among them which of the two sequences is the correct translation of Marx’s “Capital”. In the mid-to-late twentieth century in Bulgaria only one series of terms is already used – value, con­sumer value, exchange value, surplus value. In this article we try to show that this dispute is not just terminological, but it is essential. That it is the result of mutual differentiation of the two main schools of economics – the radical and liberal paradigms. As a result of the mutual differentia­tion of terminology the common field of the two schools is “reduced” and this is detrimental for both schools. In our opinion, the correct transla­tion of the terms in the “Capital” is through the series – worth, customer worth, exchange worth, surplus worth, etc. Thus, the common problem field of the two schools restores to some extent.