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
Theories of Surplus Value 1472) running to some 200 printed sheets in length: it is the first systematically worked out draft – though still only rough and incomplete – of all four volumes of "Capital". "Theories of Surplus Value" forms the longest (about 110 printed sheets) and most fully elaborated part of this huge manuscript, and it is the first and only draft of the fourth, concluding volume of "Capital". Marx called this volume, as distinguished from the three theoretical volumes of "Das Kapital", the historical, historico-critical, or historico-literary part of his work. Marx began to write "Theories of Surplus Value" within the framework