To study the exchange at equal value, we primarily need to observe and study the history of exchange and its formation of principles, charity the dialectical unity relation between the economy principles and economy ethics, and the exchange at equal value is the very typical model of unity. See the moral implication of the exchange at equal value from the point of viem of economy ethics, it embodys mostly to give play to people's object, to form fail competition, to form social justice and individual virtue, and so on. As the basic principals of the socialist market economy, there is inherent consistency between the exchange at equal value and socialist morals, for it does not only embodys the socialist essence, but also accords with socialist market economy demands, and tallys with collectivism. However, because of the exchange at equal value and its operational environment lacking integrality, there still exist certain moral defect with it and it needs the introspection of people's morals and intuitive knowledge, the stipu lations of an agreement of legal system and the socialist market mechanism itself's being perfected, so that it could reduce and avoid the moral crisis posed by the ethics defect of the exchange at equal value, to bring about double smoothing people's material and spiritual demands in the marliet economy.
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