Karl Marx In 1867, the first volume of "Das Kapital" was published, a work which analysed the capitalist process of production. Here Marx elaborated his labour theory of value, which had been influenced by Thomas Hodgskin. Marx acknowledged Hodgskin's "admirable work" "Labour Defended against the Claims of Capital" at more than one point in "Capital." Indeed, Marx quoted Hodgskin as recognising the alienation of labour that occurred under modern capitalist production. No longer was there any "natural reward of individual labour. Each labourer produces only some part of a whole, and each part having no value or utility of itself, there is
Differential and absolute ground rent Differential and absolute ground rent Differential ground rent and absolute ground rent are concepts used by Karl Marx in the third volume of Das Kapital to explain how the capitalist mode of production would operate in agricultural production, under the condition where most agricultural land was owned by a social class of land-owners who obtained rent income from those who farmed the land. The farm work could be done by the landowner himself, the tenant of the landowner, or by hired farm workers. Rent as an economic category is regarded by Marx as one form of surplus value just like