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
Timeline of Karl Marx Republic of China in 1949. Many labour unions and workers' parties worldwide are influenced by Marxism, while various theoretical variants, such as Leninism, Stalinism, Trotskyism, and Maoism, were developed from them. Marx is typically cited, with Émile Durkheim and Max Weber, as one of the three principal architects of modern social science. The list on the left recounts significant events in the life of Karl Marx, and his friends and family. The list on the right provides contextual information, recounting wider political and historical events that had an effect on Marx. Timeline of Karl Marx Karl Marx (5 May 1818