▁" state ▁capital isms " ▁of ▁one ▁sort ▁or ▁another ▁– ▁some ▁more ▁developed , ▁and ▁others ▁less ▁developed ). ▁ ▁In ▁his ▁famous ▁book ▁State ▁capital ism ▁in ▁Russia ▁( 1 9 4 8 ), ▁Tony ▁Cl iff ▁the or ized ▁that ▁the ▁law ▁of ▁value ▁" t ends ▁to ▁equal ise ▁supply ▁and ▁demand , ▁a ▁situation ▁in ▁which ▁price ▁is ▁equal ▁to ▁value , ▁or ▁more ▁correctly , ▁is ▁equal ▁to ▁price ▁of ▁production ." ▁Although ▁there ▁seemed ▁to ▁him ▁to ▁be ▁little ▁internal ▁evidence ▁that ▁the ▁law ▁of ▁value ▁reg ulated ▁the ▁Soviet ▁economy , ▁he ▁believed ▁the ▁law ▁of ▁value ▁was ▁" the ▁ar b iter ▁of ▁the ▁Russian ▁economic ▁structure ▁as ▁soon ▁as ▁it ▁is ▁seen ▁in ▁the ▁concrete ▁historical ▁situation ▁of ▁today — the ▁an arch ic ▁world ▁market ." ▁Crit ics ▁of ▁this ▁interpretation ▁argue ▁that ▁the ▁Soviet ▁economy ▁was , ▁in ▁reality , ▁rather ▁aut ark ic ▁( self - su fficient ), ▁that ▁foreign ▁trade ▁was ▁state - direct ed ▁and ▁played ▁a ▁compar atively ▁small ▁role ▁in ▁the ▁economy ▁as ▁a ▁whole , ▁and ▁that ▁the ▁foreign ▁transactions ▁were ▁often ▁non - com mer cial ▁( o ften ▁a ▁form ▁of ▁bar ter , ▁subs id ized ▁trans fers ▁or ▁counter - tra de ). ▁ ▁Rudolf ▁Hil fer ding ▁regarded ▁state ▁capital ist ▁theories ▁as ▁concept ually ▁in co her ent , ▁because ▁– ▁he ▁argued ▁– ▁the ▁law ▁of ▁value ▁pres upp osed ▁market ▁competition ▁among ▁private ▁enter pr ises