This study expresses the idea that Russian economic thought, contrary to popular claims, at the turn of the 19th and 20th centuries, could occupy a significant place in world science. Possessing methodological independence, domestic science at the turn of the 20th century, was able to offer its own, different from European, neoclassical, version of the modification of economic theory. Domestic economists have proposed a unifying theory of value, which combined in itself the subjectivist and objectivist principles.