ABSTRACT
This chapter examines the identification of an important concept in Tugan-Baranovsky's thought: the 'economic plan', and in particular whose concept can be construed as a go-between making sense of, and even resolving, the contradictions between value and prices. Tugan-Baranovsky's attempt at a synthesis between marginal utility and the labour theory of value took various forms, which are gathered together in two versions: the 'simple' and the 'complex' synthesis. Subjective value is determined by human will and is a logical category of the economy, since the evaluation of the ability of goods to satisfy needs exists for each human being in every society, independently of its regime. Objective value, or exchange value in the exchange economy, is the purchasing power of a good. Objective value is a historical category of the economy, since it takes place in the exchange economy. Absolute costs are the labour costs expended in the production of an economic good, under given technical conditions.
