. ▁If ▁the ▁allocation ▁of ▁resources ▁was ▁performed ▁by ▁a ▁state ▁dict ator ship , ▁there ▁was ▁no ▁capital ism ▁at ▁all . ▁ ▁Ernest ▁Mand el ▁According ▁to ▁Ernest ▁Mand el , ▁the ▁law ▁of ▁value , ▁as ▁a ▁law ▁of ▁exchange , ▁did ▁influence ▁non - cap ital ist ▁soci eties ▁to ▁some ▁extent , ▁in asm uch ▁as ▁exchange ▁and ▁trade ▁pers isted , ▁but ▁because ▁the ▁state ▁directed ▁the ▁bulk ▁of ▁economic ▁resources , ▁the ▁law ▁of ▁value ▁no ▁longer ▁ruled ▁or ▁domin ated ▁resource ▁allocation . ▁The ▁best ▁proof ▁of ▁that ▁was ▁that ▁there ▁was ▁mostly ▁no ▁clear ▁relationship ▁at ▁all ▁anymore ▁between ▁the ▁exchange - value ▁of ▁goods ▁trad ed , ▁how ▁they ▁were ▁allocated , ▁and ▁what ▁it ▁really ▁cost ▁to ▁produce ▁them ; ▁account ing ▁information , ▁in so far ▁as ▁it ▁was ▁valid , ▁might ▁in ▁fact ▁be ▁unable ▁to ▁show ▁anything ▁about ▁the ▁real ▁nature ▁of ▁resource ▁allocation . ▁The ▁prices ▁in ▁the ▁Soviet ▁economy ▁were , ▁for ▁the ▁most ▁part , ▁not ▁market ▁prices ▁but ▁admin ister ed ▁prices ▁set ▁by ▁the ▁planning ▁bo ards ▁( there ▁was ▁also ▁a ▁black ▁market , ▁mainly ▁for ▁consumer ▁goods ). ▁ ▁In so far ▁as ▁the ▁social ▁prior ities ▁of ▁state ▁policy ▁ens ured ▁that ▁people ▁got ▁what ▁they ▁needed , ▁that ▁was ▁a ▁good ▁thing ; ▁but ▁in so far ▁as ▁resources ▁were ▁was ted ▁because ▁of ▁a ▁lack ▁of ▁sensible ▁cost - e conom ies , ▁it ▁was ▁a ▁bad ▁thing .