Adam Smith homely observations, making them feel comfortable all along." Classical economists presented competing theories of those of Smith, termed the "labour theory of value". Later Marxian economics descending from classical economics also use Smith's labour theories, in part. The first volume of Karl Marx's major work, "Das Kapital", was published in German in 1867. In it, Marx focused on the labour theory of value and what he considered to be the exploitation of labour by capital. The labour theory of value held that the value of a thing was determined by the labour that went into its production. This contrasts with
The Social and Political Thought of Karl Marx Marx have suffered from lack of awareness of these works. In addition, he discusses "Das Kapital" and explores the influence of the philosophers Georg Wilhelm Friedrich Hegel and Ludwig Feuerbach on Marx. "The Social and Political Thought of Karl Marx" was published by Cambridge University Press in 1968. "The Social and Political Thought of Karl Marx" received positive reviews from Gianfranco Poggi in the "British Journal of Sociology" and Herminio Martins in "The Sociological Review". The book was also reviewed by George L. Donaldson in the "International Review of Modern Sociology". Poggi described the book as a convincing attempt to