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
Organic composition of capital constant capital in the total capital outlay increases, and that labor input per product unit declines. The concept is introduced in chapter 25 of "Das Kapital", where Marx writes: In his discussion, Marx leaves out of account components of capital other than labour-power and means of production invested in, such as the faux frais of production (incidental expenses). The full importance of the OCC emerges in chapter 8 of the third volume of "Das Kapital". The value composition of capital (VCC) is usually expressed as a ratio of constant capital to variable capital, or formula_1. Other measures are also used