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
Das Kapital its Marxist treatment later in detail by Rosa Luxemburg, among others. "Capital, Volume III", subtitled "The Process of Capitalist Production as a Whole", was prepared by Friedrich Engels from notes left by Karl Marx and published in 1894. It is in seven parts: The work is best known today for Part 3, which in summary says that as the organic fixed capital requirements of production rise as a result of advancements in production generally, the rate of profit tends to fall. This result, which orthodox Marxists believe is a principal contradictory characteristic leading to an inevitable collapse of the capitalist