Das Kapital and preparatory work (especially regarding the theory of surplus value), the first volume appeared in 1867 as "The Production Process of Capital". After Marx's death in 1883, from manuscripts and the first volume Engels introduced Volume II: "The Circulation Process of Capital" in 1885; and Volume III: "The Overall Process of Capitalist Production" in 1894. These three volumes are collectively known as "Das Kapital". "Capital, Volume I" (1867) is a critical analysis of political economy, meant to reveal the contradictions of the capitalist mode of production, how it was the precursor of the socialist mode of production and of the
Economic planning are impossible organizational forms for managing a modern industrial system. Joseph Schumpeter, an economist associated with both the Austrian school and the Institutional school of economics, argued that the changing nature of economic activity (specifically the increasing bureaucratization and specialization required in production and management) was the major cause for capitalism eventually evolving into socialism. The role of the businessman was increasingly bureaucratic, and specific functions within the firm required increasingly specialized knowledge, which could be supplied as easily by state functionaries in publicly-owned enterprises. In the first volume of "Das Kapital", Karl Marx identified the process of capital accumulation