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
Karl Marx Library effort," Jordan presciently predicted. The first volume of the series, "On Revolution" (1971) broke little original ground for Marx scholars, containing only a spate of articles from the 1850s from Horace Greeley's "New York Tribune" on the contemporary situation in Spain that were not already readily available in other publications. Padover's failure to maintain a chronological presentation of documents was criticized by one reviewer, who observed that Marx's own views on the nature and time span of the revolutionary process evolved considerably during the second half of the 1800s. Padover's lengthy introduction to the first volume, "Karl Marx as Revolutionist,"