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In Das Kapital (1867), Marx proposes that the motivating force of capitalism is in the exploitation of labor, whose unpaid work is the ultimate source of surplus value.The owner of the means of production is able to claim the right to this surplus value because they are legally protected by the ruling regime through property rights and the legally established distribution of shares which are ...
Volume I: The Process of Production of Capital (German: Das Kapital. Kritik der politischen Ökonomie Erster Band. Buch I: Der Produktionsprocess des Kapitals) is the first of three treatises that make up Das Kapital, a critique of political economy by the German philosopher and economist Karl Marx. First published on 14 September 1867, Volume ...
Chapters 3–5 discuss Capital Volume I, chapter 6 discusses Volume II, and chapters 7–10 discuss Volume III; chapters 11 and 12 discuss theories of the state and communism, respectively. The book also incorporates an analysis of the differences between the various revisions made by Marx to Capital , [11] [22] as well as a wide range of ...
t. e. Imperialism, the Highest Stage of Capitalism, [a] originally published as Imperialism, the Newest Stage of Capitalism, [b][1] is a book written by Vladimir Lenin in 1916 and published in 1917. It describes the formation of oligopoly, by the interlacing of bank and industrial capital, in order to create a financial oligarchy, and explains ...
The tendency of the rate of profit to fall (TRPF) is a theory in the crisis theory of political economy, according to which the rate of profit —the ratio of the profit to the amount of invested capital —decreases over time. This hypothesis gained additional prominence from its discussion by Karl Marx in Chapter 13 of Capital, Volume III,[1 ...
v. t. e. " Wage Labour and Capital " (German: Lohnarbeit und Kapital) was an 1847 lecture by the critic of political economy and philosopher Karl Marx, first published as articles in the Neue Rheinische Zeitung in April 1849. [1] It is widely considered the precursor to Marx’s influential treatise Das Kapital. [2]
Karl Marx. Karl Marx (German: [maʁks]; 5 May 1818 – 14 March 1883) was a German-born philosopher, political theorist, economist, historian, sociologist, journalist, and revolutionary socialist. His best-known works are the 1848 pamphlet The Communist Manifesto (with Friedrich Engels) and his three-volume Das Kapital (1867–1894); the latter ...
Criticism of capitalism is a critique of political economy that involves the rejection of, or dissatisfaction with the economic system of capitalism and its outcomes. Criticisms typically range from expressing disagreement with particular aspects or outcomes of capitalism to rejecting the principles of the capitalist system in its entirety.