Abstract
The subject I chose at first was entitled: ‘Relative prices of capital and consumer goods’. It was one of the topics suggested by the organizers of this Conference. But I had to modify it, because I realized that I would not be able to say much on it, if I had to keep to its literal formulation. For it seems to me that price relations between producer and consumer goods have no significance whatever as parameters for any decisions in a socialist economy. They neither influence the allocation of resources between investment and consumption sectors, nor do they affect investment decisions in particular industries, because those decisions are not governed by higher profitability in money terms.
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Notes
Cf. M. Dobb, An Essay on Economic Growth and Planning, London, 1959, chapter vi.
This has been rightly pointed out by Joan Robinson in ‘The Philosophy of Prices’, in Collected Papers, Oxford, 1960.
L. Kantorowicz, Economiczeskij razcziot najluczszego ispolzowanja riesorsov (Economic Calculation of the best Use of Resources), Moscow, 1959.
J. Lipinski, ‘Wybrane zagadniendia z problematyki cen środków produkcji’ (‘Selected problems of setting prices of means of production’), Ekonomista, 1954, No. 4.
J. Lipinski, ‘W sprawie teorü kosztöw krancowych’ (‘On the theory of marginal costs)’, Ekonomista, 1961, No. 2.
V. Novozylov, Izmierenije zatrat i ich resultatov w socjalisticzeskom chozjajstvie (Primienienie matematiki u ekonomiczeskich issledowanijach), Moscow, 1959.
J. Lipinski, ‘Ocena efektywności inwestycji’ (‘The estimate of investment effectiveness’), Ekonomista, 1957, No. 2.
H. Fiszel, ‘Optymalne programowanie inwestycji, a stopa procentowa w gospodarce socjalistycznej’ (‘Optimal programming of investment and the rate of interest in a socialist economy’), Ekonomistay 1961, No. 1.
M. Kalecki, M. Rakowski, ‘Próba uogólnienia wzoru efektywności inwestycji’ (‘An attempt at a generalisation of the investment effectiveness formula’), Gospodarki Planowa, 1959, No. 11.
T. Czarnek, Z. Kryziak, M. Rakowski, ‘Syntetyczna forma rachunku efek-tywności inwestycji’ (‘The synthetic form of calculation of economic effectiveness of investment’), Ekonomista, 1961, No. 3.
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© 1966 International Economic Association
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Lipinski, J. (1966). The Correct Relation Between Prices of Producer Goods and Wage Costs in a Socialist Economy. In: Hague, D. (eds) Price Formation in Various Economies. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-08467-8_7
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