Relationship of the establishment of exchange relations with the movement to the unity of profitability of capitals

Viktor Rossinskiy

RELATIONSHIP OF THE ESTABLISHMENT OF EXCHANGE RELATIONS WITH THE MOVEMENT TO THE UNITY OF PROFITABILITY OF CAPITALS Relationship of the establishment of exchange relations with the movement to the unity of profitability of capitals

АА Аа

Published in Theoretical economics · Pages 35–43 · Rubric: ACTUAL PROBLEMS OF THEORETICAL ECONOMY

Received: 10.02.2022 Accepted: 12.02.2022 Published: 28.02.2022

Authors

Viktor Rossinskiy

ORCID

Viktor Rossinskiy

Russian Federation

ORCID

ABSTRACT

The theory of measurements establishes that «The objects of measurements are properties». The brightest representatives of the two opposing trends struggled to determine which property is to be evaluated and measured in the exchange of goods. Marx meant that something abstract from their consumer properties is associated with goods, that they have a common property - value. As a postulate, he determined the amount of value through the amount of labor. Böhm-Bawerk and his supporters postulated that the value of the exchange property is determined by the size of the marginal use value (utility). But Marshall decisively refuses to search for a common property of goods, an exchange property, and presents the world with the «Marshall’s cross». Economic science between the phenomenon of equalizing the profitability of capitals and the establishment of exchange ratios for commodities does not reveal a natural, causal connection, and therefore is not inclined to seek a functional relationship between the phenomena mentioned. Meanwhile, the natural, under the influence of an invisible hand, the selection of capital according to their ability to survive leads to the alignment of their profitability. The establishment of correlations in the exchange of commodities of market production through events taking place in the entire production of society is connected with the equalization of the profitability of capitals. In the course of equalizing the profitability of capital, the exchange property of commodities is also revealed. To simplify the presentation, the issue is considered for the case of a single-level capitalist market production of society, that is, for production that does not use purchased objects of labor.

KEYWORDS

money, capital, profit, interest, price, cost, value, credit, marginal utility, rate of profit, demand, supply

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Rossinskiy V. P. Relationship of the establishment of exchange relations with the movement to the unity of profitability of capitals // . 2024. pp. 35-43. (Date of access 20.08.2026).

MLA

Viktor Rossinskiy. "Relationship of the establishment of exchange relations with the movement to the unity of profitability of capitals." (2024): 35-43.

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Rossinskiy V. P. (2024). Relationship of the establishment of exchange relations with the movement to the unity of profitability of capitals. , 35-43.

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Viktor Rossinskiy. "Relationship of the establishment of exchange relations with the movement to the unity of profitability of capitals." , no. (2024): 35-43.

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{{cite journal | author = Rossinskiy V. P. | title = Relationship of the establishment of exchange relations with the movement to the unity of profitability of capitals | journal = | year = 2024 | pages = 35-43 }}

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