Economics wealth (capital) and a constant population size. Marxist (later, Marxian) economics descends from classical economics. It derives from the work of Karl Marx. The first volume of Marx's major work, "Das Kapital", was published in German in 1867. In it, Marx focused on the labour theory of value and the theory of surplus value which, he believed, explained the exploitation of labour by capital. The labour theory of value held that the value of an exchanged commodity was determined by the labour that went into its production and the theory of surplus value demonstrated how the workers only got paid
Biographies of Karl Marx Biographies of Karl Marx Karl Marx (5 May 1818 – 14 March 1883) was a German philosopher, economist, sociologist, journalist, and revolutionary socialist. Born in Trier to a middle-class family, he later studied political economy and Hegelian philosophy. For a general review of Karl Marx biographies, see the article "Karl Marx: An Overview of his Biographies" by Angelo Segrillo. Karl Marx: The Story of His Life () is a 1918 book about Karl Marx by Franz Mehring, a German historian. Considered the classical biography of Marx, the work has been translated into many languages, including Russian (1920), Danish (1922), Hungarian