The theory of value as an acquisition of economic science: restoration of the foundations of social harmony

Abstract

The formation of the information society and the network based economy has marked the beginning of global market transformations, which in their deep essence are associated with the need for a creative understanding of the new socio-economic picture of the world. An adequate response to the vital social demand is the formation of a relativistic economic theory. The logic of the Middle Way as a classical institutional channel is today called to create political economy in a broad sense with the help of the theory of economic value. Since the time of Adam Smith, when economic science recognized value relations as its own subject, and until now, the theoretical stream of the classical school has preserved internal harmony and is now able to produce signals of balanced functioning and sustainable development for economic entities. The basis for this is its value based origins in the triple unity of transformed economic forms of marginal utility, value and price. Such a concept is able, on the one hand, to most fully reflect the economic picture of the world with the help of the value based unity of economic history, and on the other hand, to creatively transform it. The triple nature of economic value as an ideal platform for the institutional architecture of management designed to formulate the guidelines of virtuous social life, constitutes the core of true European values. However, the concept of European values has not yet been properly understood in the coordinate system of fundamental scientific knowledge, and the key concept of economic value as an economic good has not yet acquired proper scientific interpretation and consistent deployment. The ideological detachment of the official concepts of modern economic thought from the institutional core of European values determines the tendency of their methodological degradation. Meanwhile, the value based methodology has not exhausted its potential. Continuity with the legacy of classical political economy determines the most important creative breakthroughs in economic theory during the 20th century. In the bowels of the Middle Way logic based on the concept of a standard product by P. Sraffa, the outlines of a new model of economic equilibrium in the economic system were formed in the process of its informational and technological modification. However, traditional economic science does not recognize the actual meaning of such a concept. Under the conditions of value disorientation against the background of politicized economic relations and dysfunction of social institutions, the struggle for the transformation of the world order model acquires the characteristics of a war against humanity. But it is not the "hard" power and manipulation of technologies, but rather effective mastery of social values, and the restoration of their beneficial creative potential, that is the key to success in the struggle.