Adam Smith homely observations, making them feel comfortable all along." Classical economists presented competing theories of those of Smith, termed the "labour theory of value". Later Marxian economics descending from classical economics also use Smith's labour theories, in part. The first volume of Karl Marx's major work, "Das Kapital", was published in German in 1867. In it, Marx focused on the labour theory of value and what he considered to be the exploitation of labour by capital. The labour theory of value held that the value of a thing was determined by the labour that went into its production. This contrasts with
Edward Aveling daughter of Karl Marx, and thus was thrust into the inner circle of British socialism. Later in 1884, Aveling and Eleanor were both elected to the Executive Council of the Social Democratic Federation. This position proved temporary, because the couple separated from the SDF at the end of the year along with William Morris and Belfort Bax in the acrimonious split which formed the Socialist League. In 1884, Frederick Engels enlisted Aveling to help in translating the first volume of Karl Marx's book "Das Kapital." Aveling also achieved some small success as a playwright under the pen-name Alec Nelson. In