| | | | PROBLEMS OF MODERN ECONOMICS, N 2 (90), 2024 | | | | ISSUES OF ECONOMIC THEORY. MACROECONOMICS | | | Sorokin A. V. Chair of political economy, Department of Economics, M.V. Lomonosov Moscow State University, PhD (Economics), Professor
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| | | The article shows how L. Bortkevich (1868–1931) succeeded in getting on the trail of a real problem: the transformation of values into production prices in Marx’s “Capital” is considered as a single random act without analyzing the possibility of its repetition or reproduction of constant and variable capital. It is believed that Marx should have converted not only outputs, but also costs into production prices, but did not do this. What is overlooked is that replacing the “cost–price of production” model with “prices of production — prices of production” model would be a “death sentence” for both the category of value (it would become superfluous) and the “Capital.” The author demonstrates that the reproduction of constant and variable capital obviously begins with production prices, but in total they are equal to their values. Each new period begins with a value, and then as a result of inter-industry competition, an average profit margin is formed and values are converted into production prices. “This story is being played out before our eyes every day” (K. Marx). | | Key words: the transformational problem, cost, price of production, K. Marx, The Capital, L. Bortkevich | | Pages: 33 - 44 |
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