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
Wage Labour and Capital Wage Labour and Capital "Wage Labour and Capital" (German: "Lohnarbeit und Kapital") is an essay on economics by Karl Marx, written in 1847 and first published in articles in the "Neue Rheinische Zeitung" in April 1849. This essay has been widely acclaimed as the precursor to Marx’s important treatise "Das Kapital". The ideas that are expressed in the essay have a very thorough economic contemplation about them as he put aside some of his materialist conceptions of history for the time being. This essay did, however, start to show an increased scientific rationale on his ideas of "alienated labor," which