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
Francis Wheen journalism. Wheen is the author of several books, including a biography of Karl Marx which won the Deutscher Memorial Prize in 1999, and has been translated into twenty languages. He followed the biography of Karl Marx with a "biography" of "Das Kapital", which follows the creation and publication of the first volume of Marx's major work as well as other incomplete volumes. Wheen had a column in "The Guardian" for several years. He writes for "Private Eye" and is currently the magazine's deputy editor. His collected journalism, "Hoo-hahs and Passing Frenzies", won him the Orwell Prize in 2003. He has