Some Questions of the Theory and Practice of Price Formation in the U.S.S.R.

In the discussion on commodity production and the operation of the law of value under socialism, particularly great stress is given to the problems of price formation. This is easy to understand. Price formation is one of the most important levers of the planned, balanced application of the law of value to the management of the economy. During the discussion, many interesting considerations were offered and suggestions made, which have a theoretical as well as a practical meaning. Still, some economists are trying to treat the problem of price formation from a position of "pure theory," so to speak, neglecting the many years of practical experience in this field. These comrades are advancing certain practical proposals, based on abstract theoretical formulas, with which, in our opinion, it is impossible to agree.