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On the Notion of Value in the Modern Economy

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  • V. Medvedev

Abstract

The transformation of value in the modern economy based on interchangeability of resources and the increasing role of knowledge is considered in the article. The author provides critical analysis of denying commodity-money relations in the Soviet economy, the concept of overcoming commodity economy and destruction of value in the post-industrial economy. He argues for synthesis of the theory of labor value and the utility theory.

Suggested Citation

  • V. Medvedev, 2003. "On the Notion of Value in the Modern Economy," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 11.
    • Handle: RePEc:nos:voprec:y:2003:id:2105
    DOI: 10.32609/0042-8736-2003-11-53-64
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