Economics, Econometrics and Finance
8 years ago

Decrease in Prices Linked to Social Labor Productivity Growth Over Time

Problems in Economics
Problems of Distribution and Price Formation
Sh. Turetskii

Paper Summary

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Prices are influenced by production conditions and distribution, not just labor. Prices reflect value in money form, not labor directly. Prices decrease with increased productivity and lower goods value, but not automatically. Changes in prices align more with production costs than social costs.