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
Das Kapital Volume II" (1885) and "Capital, Volume III" (1894), which friend and collaborator Friedrich Engels edited and published as the work of Marx. The first translated publication of "Das Kapital" was in Imperial Russia in March 1872. It was the first foreign publication and the English edition appeared in 1887. Despite Tsarist censorship proscribing "the harmful doctrines of socialism and communism", the Russian censors considered "Capital" as a "strictly scientific work" of political economy the content of which did not apply to monarchic Russia, where "capitalist exploitation" had never occurred and was officially dismissed, given "that very few people in Russia