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
The Formation of the Economic Thought of Karl Marx The Formation of the Economic Thought of Karl Marx The Formation of the Economic Thought of Karl Marx: 1843 to Capital () is a 1967 book by the Marxist theorist Ernest Mandel, in which the author discusses the economic theories of Karl Marx. It appeared in English translation in 1971. "The Formation of the Economic Thought of Karl Marx" received a positive review in "Telos" from James E. Hansen when the work was published in English in 1971. Hansen welcomed Mandel's book as important contribution to scholarship on Marx. The political scientist David McLellan called Mandel's work "excellent" in the