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
Nikolai Danielson in radical political circles and took interest in one of the populist "narodnik" movement. In 1872, Danielson published the first Russian translation of volume 1 of "Das Kapital" by Karl Marx. The translation had been initiated by Mikhail Bakunin before Bakunin's break with Marx and had been continued by German Lopatin. While completing the translation, Danielson initiated a correspondence with Karl Marx and Friedrich Engels, which continued for the rest of their lives. Danielson also translated volumes 2 and 3 of "Das Kapital", which were published in 1885 and 1896. In 1880 Danielson published the article "Studies of Our Post-Reform