Prices of Production and the Validity of Value Theory

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  • 生産価格と価値理論の有効性

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In this paper, I create a price scheme in which the price diverges from the value, identify the production price scheme that brings an equal rate of profit to each sector, and consider the process of the transformation from value to production price. In the production price scheme derived from value, the level of the average rate of profit is determined. However, this average rate of profit depends on the value relations of the commodity produced. Against the claim that value theory is unnecessary because the production price ratios and the average rate of profit can be determined using the production price equation with input coefficients and real wage rates, this paper examines the validity of the theory of value. By using the concept of value, it becomes clear that the exchange transactions of each commodity at production prices involve unequal exchange, and the formation of production price presupposes the existence of exploitation. Furthermore, the theory of value clarifies that, for the rate of profit to be positive in each production sector, the rate of surplus value must be positive, and, moreover, its minimum value must continually rise as unequal exchange advances. It has been confirmed in the transformation controversy that the two propositions of the total value＝total production price and total surplus value =total average profit are generally incompatible. However, if, these two propositions are considered in comparison with the production price corresponding value scheme, which displays the value amounts of commodities corresponding to the components of production price, then proposition A defines the total production price=the value corresponding to the total production price, while proposition B defines the total average profit=the value corresponding to the total average profit. The two propositions of total congruence, defined in this way as A and B, are compatible only at the stage of the formation of production prices, except for the value price, which is proportional to value. If the compatibility of these two propositions is taken as the basis for the dominance of the value law, then production prices represent the form in which the value law is realized.

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