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
Karl Marx Year prominent renovations/reopenings of the Karl Marx House in 1968 and 1983. In 2018, Trier launched its own Karl Marx Year for the 200th anniversary of his birth. Karl Marx Year Karl Marx Year () was a series of anniversaries of Karl Marx commemorated by East Germany in 1953, 1968, and 1983. The most promininent was in 1953, for the 70th anniversary of Marx's death, and included the renaming of Chemnitz as Karl-Marx Stadt and of Leipzig University as Karl Marx University, the founding of the Order of Karl Marx, and the initiation of the project of Marx and Engels' works.