The Labor Theory of Value and Its Impact on the Role of the Socialist Market Economy

Under the condition of the socialist market economy,the Labor Theory of Value also plays an important role,but the productive range of creating value should be extended;the present distributing policy should incline to the complex labor like the technological labor and the managing labor,so the concretive distributing type should be innovated;we should pay attention to the complex labor to increase the efficiency of labor and carry out more surplus value.The Labor Theory of Value adjusts the industrial structure and the income distribution of the socialist market economy.Combining the distribution according to labor and the distribution according to production elements and giving priority to efficiency with due consideration to fairness can increase the productivity of labor,promote the sustainable development of the science and technology and create more social wealth.