History of economic thought died, Engels completed the second volume of "Das Kapital" from his notes. Marx wrote his magnum opus "Das Kapital" (1867) at the British Museum's library in London. Karl Marx begins with the concept of commodities. Before capitalism, says Marx, production was based on slavery – in ancient Rome for example – then serfdom in the feudal societies of medieval Europe. The current mode of labor exchange has produced an erratic and unstable situation allowing the conditions for revolution. People buy and sell their labor as people buy and sell goods and services. People themselves have become disposable commodities. As Marx
Organic composition of capital constant capital in the total capital outlay increases, and that labor input per product unit declines. The concept is introduced in chapter 25 of "Das Kapital", where Marx writes: In his discussion, Marx leaves out of account components of capital other than labour-power and means of production invested in, such as the faux frais of production (incidental expenses). The full importance of the OCC emerges in chapter 8 of the third volume of "Das Kapital". The value composition of capital (VCC) is usually expressed as a ratio of constant capital to variable capital, or formula_1. Other measures are also used