This paper describes an approach to estimating an equilibrium wage and an equilibrium rate of return with subsequent identification of their distortions when actual values of macrofactor prices are formed. The relation of the process of distortion of equilibrium prices to Walras’ Law is demonstrated. The concept of nonequilibrium prices is generalized from three markets: labor, capital, and institutional. The notion of economic market flexibility is introduced and its role in achieving economic equilibrium is ascertained. A technique for determining the “natural” rate of unemployment is proposed. All the methods are validated using the United States, Britain, and Russia as examples.