History of economic thought died, Engels completed the second volume of "Das Kapital" from his notes. Marx wrote his magnum opus "Das Kapital" (1867) at the British Museum's library in London. Karl Marx begins with the concept of commodities. Before capitalism, says Marx, production was based on slavery – in ancient Rome for example – then serfdom in the feudal societies of medieval Europe. The current mode of labor exchange has produced an erratic and unstable situation allowing the conditions for revolution. People buy and sell their labor as people buy and sell goods and services. People themselves have become disposable commodities. As Marx
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