Law of value

[jià zhí guī lǜ]

Basic economic laws

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The law of value is commodity production and commodity exchange The basic economic law of Value Depending on Socially necessary labor time Commodities are exchanged according to the principle of equal value.

stay private ownership In society, the law of value spontaneously regulates production and stimulates Production technology And accelerate the differentiation of commodity producers. stay socialist society Medium due to socialist economy Is on Public ownership Based and planned commodity economy Therefore, the socialist market economy must consciously follow and apply the law of value to promote the development of the socialist economy.

Chinese name: Law of value
Foreign name: law of value
Nature: basic economic law one of

Discipline: economics
Presenter: Karl Marx
Origin: 《 Capital 》Volume I

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basic law

Law of value

The law of value is the basic law of commodity economy.

Merchandising Value from Socially necessary labor time It was decided that the goods should be exchanged at equal value. In commodity production and Exchange process In China, the main reason is the comparison of commodity production technologies, the survival of the fittest, so as to constantly promote the continuous development of productivity. Its manifestation is that market supply and demand affect commodity prices, and commodity prices fluctuate up and down with value as the center. Labor only Necessary labor time Embodied, this statement is classical economics The concept of; according to Neoclassical economics The concept of "supply and demand" is that supply and demand determine the price of goods; Supply depends on objective factors such as labor, while demand depends on subjective factors such as utility. Its role in promoting the development of productive forces, whether in the private ownership society or in Public ownership Society, as long as there is a commodity economy, will work.

Substantive comparison

In fact, it is accidental that the price and value of goods are consistent, but inconsistency often occurs. This is because although the price of goods is based on value, it is also affected by many factors, making it change.

Law of value

Generally, the most important factor affecting price changes is the relation between supply and demand 。 In the market, when the supply of a commodity falls short of demand, its price may rise above the value; When supply exceeds demand, the price will fall below the value. At the same time, price changes will in turn adjust and change the relationship between supply and demand in the market, making prices fluctuate around the value.

Form of expression

Price fluctuation around value is the manifestation of the role of value law. Although commodity prices rise and fall from time to time, changes in commodity prices are always centered on their value. In addition, for a long time and the whole society, the deviation between commodity prices and values is positive and negative, which can offset each other. Therefore, on the whole, the price and value of goods are equal.

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content

(1) Merchandising Value Is produced by Socially necessary labor time Determined.

（2） commodity exchange We should implement equivalent exchange based on the amount of value 。

Exchange principle

① On commodity exchange In China, commodity producers always want to raise prices, while consumers want to lower prices. Therefore, in the long-term market exchange, the trend of equivalent exchange is inevitable.

② In commodity exchange, if one party always takes advantage and the other party always suffers losses, such commodity exchange cannot continue.

Law of value

Objective requirements

Merchandising Value Determined by the production of goods Socially necessary labor time Commodities must be exchanged according to the principle of equal value and quantity. After the emergence of money, the value of all goods is measured by money, which is expressed as price. The equivalent exchange required by the law of value means that the price of goods should be consistent with the value. This objective requirement of the law of value, as an inevitable trend not based on people's will, controls the movement of commodity production and commodity exchange, and regulates Social labor At each Production department The distribution between commodities stimulates the progress of commodity production technology and determines the success of commodity producers.

Form of expression

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The commodity price is affected by the relationship between supply and demand, and fluctuates around the value, which is the manifestation of the law of value.

Essence of commodity

Law of value

Goods are exchanged Labor products 。 Different commodity producers objective condition The difference between Individual working hours It is very different. Unequal individual working hours form unequal Individual value 。 However, goods are used to meet social needs The society is interested in use value The same goods only recognize the same value, so the value of goods is not individual value but social value 。 Merchandising Value It is not determined by individual working hours, but by Socially necessary labor time That is, under the existing normal production conditions of the society Labor proficiency and labour intensity The labor time required to produce a certain use value.^[1]

Exchange essence

Commodity exchange is actually the exchange of labor between commodity producers. All kinds of goods are sold according to Socially necessary labor time Determined Value Exchange can become a mutually beneficial thing. From the perspective of individual commodity exchange commodity value Exactly equal, their prices are exactly consistent with their values, yes Not common Of. However, from the long-term trend, commodity exchange will inevitably tend to be equivalent exchange, and commodity prices will inevitably tend to be consistent with their values. This objective requirement of the law of value, in the commodity economy based on private ownership, is through competition among commodity producers Production anarchy And spontaneously implement its role.

Each individual

Law of value

In the commodity economy based on private ownership, each producer does not know exactly how many people are producing the same kind of goods, how many of the same kind of goods enter the market, or how the market affects such goods Commodity demand How many? Under such conditions, it is extremely accidental that the supply and demand of commodities in the market are exactly equal. In most cases, the supply of commodities sometimes exceeds the demand, and sometimes the supply exceeds the demand. When the supply of a certain commodity exceeds the demand, commodity producers have to cut prices to compete in order to sell their own commodities, resulting in the price of commodities falling below the value. When the supply of a commodity cannot meet the demand purchaser In order to obtain that kind of commodity, they have to compete with each other and buy it at a higher price in the market, which leads to the price of the commodity rising above the value. However, the price of commodities is higher or lower than the value, which cannot be sustained. When the price of a commodity is higher than its value, the production of that commodity can obtain greater benefits, which will inevitably lead to the expansion of that commodity production Supply Increase of. With the increase of commodity supply in the market, the price of commodities will fall and gradually approach the value. Similarly, when the price of a certain commodity is lower than its value, the profit of engaging in the production of that commodity will be reduced, or even unprofitable, which will inevitably lead to the reduction of production and supply, prompting the price to rise and gradually approaching the value. Although the price of various commodities in the market fluctuates, the price fluctuation always goes around a center. This center is the value of commodities. Price deviation Value and price fluctuate spontaneously around value under the influence of supply and demand. This phenomenon is private ownership The performance that the law of value enforces its function in the commodity economy.

Engels When expounding Marx's theory of the law of value, he said: "Commodity prices have an impact on commodity value The continuous deviation of is a necessary condition. Only under this condition and because of this condition can the value of goods exist. Only through the fluctuation of competition and commodity prices can the law of value of commodity production be implemented, Socially necessary labor time Only when the value of commodities is determined can it become a reality ".^[1]

Theoretical evolution

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Regularity formation

Law of value

Since the law of value is the basic law of commodity production commodity exchange There must be a law of value. In human history, Primitive society Later, there began to be occasional commodity exchange. With the society productivity and Social division of labor With the development of, commodity exchange has become increasingly frequent, the scope of exchange has gradually expanded, and commodity production for the purpose of exchange has emerged. Commodity production and exchange have existed for thousands of years. However, only entering capitalism When commodity production has become Social production Only after the dominant form of "Li", can people understand the essence through the phenomenon and gradually discover the law of value.

Systematic discussion

The bourgeoisie is the first to make a systematic exposition of the law of value Classical Political Economics Smith, the founder of. He is《 On the Wealth of Nations 》Chapter 7, Chapter 1 of "On the Commercial Natural price and market price 》The relationship between natural price and market price is discussed, and it is pointed out that market price will fluctuate up and down due to the influence of supply and demand, but natural price plays the role of "central price". All kinds of unexpected factors will raise the market price of commodities above the natural price or force them below the natural price, but no matter what obstacles, the market price will eventually be attracted to close to the natural price. Smith's statements have revealed the role of the law of value to a certain extent. However, although his natural price actually refers to value, he left Labor axiology , No Labor cost To explain, and think that Production cost Determined by Naturalness Government rent, wages and profits paid. Therefore, Smith did not understand the internal relationship between value and price on the basis of labor value theory, so he could not make a scientific exposition of the law of value.

dualism

Law of value

bourgeois class Classical Political Economics Completed by Ricardo Criticized Smith's duality axiology , further developed Labor axiology 。 He is《 Political Economics and Tax Principles 》The first chapter "On Value" says: "The value of a commodity or the quantity of any other commodity that this commodity can exchange depends on the relative value necessary for the production of this commodity Labor volume It does not depend on the amount of remuneration paid for this work. " He denied Smith's wrong view that the value depends on the production cost, and insisted commodity value The principle is only determined by the amount of labor consumed to produce goods, and is the first to put forward Necessary labor The concept of. However, Ricardo could not clearly distinguish between value and Exchange value The difference between duality And mistakenly portrays the amount of socially necessary labor as the most unfavorable Production conditions Therefore, he cannot explain how the exchange of capital and labor can produce on the basis of the law of value surplus value 。

Law of value

Marx inherited, criticized and developed Smith and Ricardo's Labor axiology And the law of value. He founded Duality of labor It proves that value is condensed in commodities Abstract labour 。 He studied commodity value The law of quantity formation, for determining Commodity value Of Socially necessary labor time It also points out that the socially necessary labor time determines the value of commodities, regulates the production of commodities and commodity exchange , as Universal gravitation The same is not based on people's will objective law The price fluctuates around the value, which is the manifestation of the law of value opening the way for itself. He scientifically distinguished labor and labor force, thus clarifying the law of value on the basis of surplus value The source of capitalism The secret of exploitation. He deeply studied and elaborated the law of value in order to private ownership Based commodity economy And studied the transformation form of the law of value under capitalist conditions, revealing that: Average profit rate The formation of, and the value is transformed into Production price And the law of value is also based on Production price law In the form of. In short, the science of law of value Theoretical system It was finally established by Marx.^[1]

development

The law of value is the most basic and general way of regulating spontaneous and democratic social and economic activities in the commodity economy Market regulation and Plan adjustment Above and through human society class society Development stage Always. Its core involves the regulation of commodity value and relation between supply and demand Impact on prices. Social average Scientific and technological productivity Development level Determine the value of goods, goods throughput , social transportation and Commodity circulation , different regions Consumer groups Of Consumption capacity Equal supply and demand commodity price The impact of "," must take value as the axis, cannot deviate too much from the value, and requires equal exchange of goods. In the constant pursuit of different individuals and group interest Of civil life Medium, its Social effects Is to promote the circulation of goods and Production technology The continuous development of, world market The formation of Economic vitality , solved the production adjustment. Its role of equal trade in survival of the fittest is included in stimulating economic vitality and solving production regulation. Its advanced development form is market economy , the limit form is complete planned economy 。

effect

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adjust

Regulation of value law Means of production And labor force Production department Allocation of. This is because the law of value requires commodity exchange Implement the principle of equivalent exchange, which is achieved through two-way constraints of price and supply and demand. Therefore, when supply falls short of demand, prices will rise, thus expanding production; An oversupply will cause prices to fall, thus reducing production. Here, the law of value is like an invisible Baton , directing the flow of means of production and labor force. When the supply of a commodity exceeds the demand, the law of value directs the outflow of means of production and labor from the department that produces the commodity; On the contrary, it directs the flow of means of production and labor into the sectors producing such goods.

Of course, the spontaneous action of the law of value will also cause Social labor The huge waste of National macro-control 。 here, Socialist country Can be compared with capitalist country More effective.

stimulate

Because the law of value requires that goods be Socially necessary labor time In exchange for the determined value, whoever first improves the technical equipment, has relatively high labor productivity, and individual labor time for producing goods is less than the social necessary labor time, will make more profits. Therefore, there must be competition in the same sector and industry, which will stimulate commodity producers to improve production tools, increase labor productivity, and strengthen Operation management , reduce consumption to reduce Individual working hours 。

Sieve

This is the result of the second function of promoting the survival of the fittest among commodity producers in the competition. There is competition in the commodity economy. Because of competition, commodity producers are urged to find ways to shorten individual working hours, improve labor productivity, and also promote the survival of the fittest. This is not based on human will.

Under socialist conditions Means of production It is public owned, so the survival of the fittest will not lead to the emergence of China private ownership The polarization situation under the condition of commodity economy.^[2]

The survival of the fittest is conducive to the realization industrial structure The adjustment can promote the development of the whole social productive forces, which is conducive to socialist economy Development of. But for bankrupt enterprises owner After all, it is not a good thing for the operators, which will have a greater impact on these enterprises and their employees. This requires the efforts of the state, enterprises and employees: as a country, we should rule the country by law and standardize Market behavior Protect the basic rights and interests of laid-off workers; As an enterprise, it must constantly take various measures to improve labor productivity and market competitiveness; As employees, we should constantly strive to improve our own quality.

Economic role

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commodity value Determined by the production of goods Socially necessary labor time . The goods must be exchanged at equal value objective law For the commodity economy based on private ownership, it plays the following three roles.

1、 Spontaneously regulating commodity production and Commodity circulation That is to adjust Social labor At each Production department Distribution between.

Private economy The production and circulation of commodities under the Anarchy In. Therefore, Social production and Social needs The disjunction between them is inevitable. However, in the long run and as a whole, social production and social needs It can still keep balance in general, as if there is one“ Invisible hand ”Guiding social production and regulating Means of production And labor force flow among various production sectors. This "invisible hand" is the law of value. As the internal law regulating commodity production, the law of value is enforced through competition among commodity producers. Every commodity producer tries to sell his goods at a good price as much as possible, so as to gain more profits. The competition among commodity producers makes the means of production and labor flow to the sectors where the supply exceeds the demand and the price is higher than the value, leading to the expansion of production and increase of supply in these sectors; At the same time, the means of production and labor force will be withdrawn from sectors where supply exceeds demand and prices are lower than value, leading to a reduction in production and supply in these sectors. The competition of commodity producers makes commodity price Spontaneously fluctuate around the value, thus regulating Social labor The distribution among various departments makes various deviations of supply and demand offset each other, and maintains the social balance of production in various accidental changes of production. It is in this way that the law of value, as a force acting behind producers, spontaneously regulates commodity production and circulation.

2、 Stimulate commodity producers to improve their technology and labour productivity Improvement of

The role of the law of value in regulating social production is realized through competition between commodity producers in different production sectors. And it stimulates commodities Production technology The role of improvement is realized through competition among different producers in the same production sector. All commodity producers in the same production sector tool of production 、 Object of labor etc. objective condition And producers themselves Labor skills and Labor proficiency etc. Subjective condition The difference of production is the same use value Of Labor volume I.e Individual working hours It is unequal. However, the value of commodities does not depend on individual working hours but on Socially necessary labor time 。 Individual commodity producers whose working hours are lower than the necessary working hours of the society can obtain greater benefits. Individual commodity producers whose labor time is higher than the necessary labor time of the society will not only earn less, but even cannot make ends meet, leading to bankruptcy. In order to obtain more benefits and make themselves stand in the competition, commodity producers strive to improve labor productivity and reduce the consumption of individual labor time. For this reason, we are competing to innovate production tools and improve Production method And improve labor proficiency. The law of value stimulates the whole society through the competition among commodity producers productivity Development of. However, this kind of competition in the private commodity economy is also not conducive to production technological development The negative factors of. In order to maintain their advantageous position in the competition, advanced producers must implement Technical confidentiality , trying to prevent other commodity producers from catching up with and surpassing themselves.

3、 Promote polarization of commodity producers

Socially necessary labor time decision commodity value , make subjective and objective Production conditions Different commodity producers, because Individual working hours It deviates from the social necessary labor time in different directions and to different degrees and tends to polarization between rich and poor. All commodity producers want to make themselves in a favorable position by improving production conditions and expanding production scale competitive position However, some people are limited by subjective and objective conditions and have no power to add new ones technical equipment Unable to improve their production conditions to keep up with the pace of the pioneers, the situation became increasingly difficult and eventually led to bankruptcy. Those producers with superior production conditions and rich incomes can gradually expand production and become richer and richer. This polarization of commodity producers, under certain historical conditions, will lead to capitalism Production relations Generation of. stay feudal society During the collapse period, many bankrupt handicraftsman Lose the qualification of independent producer and become a hired worker who sells labor force for a living. At the same time, some enterprises with superior production conditions Handmade workshop The master hired more helpers and apprentices, expanded the scale of the workshop, and gradually separated himself productive labor , turn into exploitation Wage labour A living capitalist. After the establishment of the capitalist system, the law of value, through its transformation form Production price law , still playing a spontaneous role in regulating social production and stimulating technical progress And promoting the polarization of commodity producers. The difference is that the commodity producers here are all capitalists. Under the influence of the law of production price Average profit Their capitalists are in a difficult situation and even go bankrupt. And gain Excess profit Can accelerate capital accumulation , expand the production scale and occupy a larger market. The law of value promotes the accumulation and concentration of capital capitalism Transition from free competition to monopoly.^[3]

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The core content of the law of value is commodity Value Determined by social necessity Working hours 。 But Marx《 Capital 》With two different meanings Necessary labor time 。 The necessary labor time in the first meaning is relative to the individual labor time, that is, the average social labor time required to produce a unit of goods. This was put forward by Marx in the first volume of Capital. The necessary labor time in the second meaning is relative to the total social labor volume. It is a component of the total social labor volume, that is, the labor time necessary for production to meet the needs of society for certain commodities. This was put forward by Marx in Volume III of Capital. There are two opinions in the academic circle: one is that the two necessary working hours are determined commodity value 。 The necessary labor time of the first meaning determines the value of a single commodity, while the necessary labor time of the second meaning determines the value of the total amount of a commodity. Another view is that what determines the value of a commodity is the necessary labor time of the first meaning. As for the necessary labor time of the second meaning, it only affects the realization of the value of the commodity and determines the consistency or deviation between the price and the value of the commodity.^[3]

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