ABSTRACT
The planned economies have accepted both the Marxist theory of money and Marxist price theory as a basis for practice. These theories are joined by the thesis that the value of both money and commodities is determined by the socially necessary amount of labor expended in their production. The situation is different in the planned economies: there, the state itself steers economic processes, their mechanisms, and prices; accordingly, not only production and distribution but also economic efficiency is dependent on economic doctrine and the steering system used. The function of prices is determined primarily by the nature of commodity-money relations. The basic principles and methods of price formation have undergone change over the course of time, but the laws of a planned economy retain their force. Three price systems based on different principles can be distinguished: industrial prices; prices for procuring agricultural products; and retail prices. Pricing begins with the actual costs of production for the industrial enterprise.
