History of economic thought died, Engels completed the second volume of "Das Kapital" from his notes. Marx wrote his magnum opus "Das Kapital" (1867) at the British Museum's library in London. Karl Marx begins with the concept of commodities. Before capitalism, says Marx, production was based on slavery – in ancient Rome for example – then serfdom in the feudal societies of medieval Europe. The current mode of labor exchange has produced an erratic and unstable situation allowing the conditions for revolution. People buy and sell their labor as people buy and sell goods and services. People themselves have become disposable commodities. As Marx
Capitalism to the 1660s; reference to "the unemployed" as a group was first made in 1782, and reference to "unemployment" as a general condition is first attested in 1888. The first recorded discussion of the reserve army of labor is in a manuscript written by Karl Marx: Marx introduced the concept in chapter 25 of the first volume of "Das Kapital", which states: His argument is that as capitalism develops, the organic composition of capital will increase, which means that the mass of constant capital grows faster than the mass of variable capital. Fewer workers can produce all that is necessary