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
Studies on Marx and Hegel Studies on Marx and Hegel Studies on Marx and Hegel () is a 1955 book about Karl Marx and Georg Wilhelm Friedrich Hegel by the French philosopher Jean Hyppolite. It has received praise from commentators, and has been credited with showing Hegel's anticipation of existentialism. Hyppolite provides assessments of Hegel's "The Phenomenology of Spirit" (1807), including the significance of Hegel's discussion in that work of the French Revolution. He also assesses Hegel's "Science of Logic", Marx's "Das Kapital" (1867–1883), and Marx's critique of Hegel's "Elements of the Philosophy of Right" (1820), and discusses György Lukács's "The Young Hegel" (1938). "Studies