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
Reinhard Marx In October 2008 Cardinal Marx, with co-author Arnd Küppers, published "Das Kapital: Ein Plädoyer für den Menschen" ("Das Kapital: A Plea for Man." Munich: Knaur-Taschenbuch-Verlag), a book named after the work by Karl Marx, that critiques capitalism. Reinhard Marx said the current worldwide financial crisis required a "fundamental social debate" and raised questions about the capacity of contemporary economies to "ensure the welfare of the world." Reinhard Marx Reinhard Marx (born 21 September 1953) is a German cardinal of the Catholic Church and chairman of the German Bishops' Conference. He serves as the Archbishop of Munich and Freising. Pope Benedict