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Prices and Production Efficiency

In: The Economics of Relative Prices

Author

Listed:
  • L. V. Kantorovich

    (Academy of Sciences of the USSR)

  • V. L. Makarov

    (Academy of Sciences of the USSR)

Abstract

Prices are a great invention of mankind. Over a long period of history they have been of vital importance, and it is little wonder that the best minds devoted their energies to the understanding of the nature and essence of prices. It is clear that price is not a frozen notion; its essence and functions, its role both in economy and society, depend on a particular social organisation. Price theory is formalised and developed accordingly.

Suggested Citation

  • L. V. Kantorovich & V. L. Makarov, 1984. "Prices and Production Efficiency," International Economic Association Series, in: Béla Csikós-Nagy & Douglas Hague & Graham Hall (ed.), The Economics of Relative Prices, chapter 1, pages 3-23, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-06265-2_1
    DOI: 10.1007/978-1-349-06265-2_1
    as

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