Eliminating the Misunderstanding Both on the Value Theory of Marxism and the Western Economics

The value concept of Marx and Angels is not a monism of labor-determining value'', but “efficiency and labor determining value” or “productivity determining value”, which reflects the decisive role of productive forces. While the concept of “labor-determining value”, having been mistaken for Marx' idea, came in fact from Kaciji's misunderstanding of Marx, which should be negated now. The concepts of “macro-factors determining value” and “micro-efficiency determining value” of the western economics have something in common with that of Marx's, so we should criticize them as well as use them for reference.