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UDC 330.133 : 330.8 +331; JEL Classification: D46, D51, F66 The most important economic concept and the phenomenon – «value» has been studying by many generations of economists. An analysis of recent studies and publications has shown that the authors consider the needs and / or labor costs to be the sources of formation of value. Moreover, there are three main, but different concepts: Smith’s, Riccardo’s and marginalistss’, in which there isn’t single point of view on the source of formation of value, there isn’t solution to the problem of determining the true source of formation of value. This problem has not yet been fully resolved.Since the economy is the organization of value, in the broad sense, the problem of determining the true source of formation of value is the problem of determining the true boundaries of the economy, the problem of the «purity» of the economy. The purpose of this publication was to establish the true source of formation of value. Tasks: to analyze the evolution of the meaning and nature of the relationship of labor value, consumption value and exchange value; to establish the role of needs and labor costs in the formation of value; to summarize the results. Methodology of research : review of literary sources, 2C70, VEO, historical-logical, induction-deduction, the theory of Babilov’s method. Findings : it is proved that needs aren’t the source of formation of value – they fulfill only the role of triggering the labor cost mechanism; the so-called «consumption value» isn’t value at all; the only true source of formation of any value has been established – only labor costs. Originality : for the first time the single true source of formation of any value has been established – only labor costs. Practical value : the establishment of labor costs as the only and true source of formation of any value will define clear boundaries, specify the subject of the economy and relieve it of unusual functions; this will ultimately lead to an increase in the efficiency of economic activity. |
