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On the Principles of Price Formation


  • V. Volkonskii


There is as yet no consensus in economic literature concerning the principles of price formation under socialism. The only point that can be considered as commonly recognized is the proposition that prices on products must reflect the socially necessary labor inputs (SNLI) associated with their production. While recognizing t h i s principle, some economists also emphasize that under socialism social utility must be the leading aspect of the unity of inputs and the utility manifested in the price. Other economists, to the contrary, reject the decisive role of social utility.

Suggested Citation

  • V. Volkonskii, 1977. "On the Principles of Price Formation," Problems of Economic Transition, Taylor & Francis Journals, vol. 20(5), pages 22-37.
  • Handle: RePEc:mes:prectr:v:20:y:1977:i:5:p:22-37
    DOI: 10.2753/PET1061-1991200522

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