Das Kapital and preparatory work (especially regarding the theory of surplus value), the first volume appeared in 1867 as "The Production Process of Capital". After Marx's death in 1883, from manuscripts and the first volume Engels introduced Volume II: "The Circulation Process of Capital" in 1885; and Volume III: "The Overall Process of Capitalist Production" in 1894. These three volumes are collectively known as "Das Kapital". "Capital, Volume I" (1867) is a critical analysis of political economy, meant to reveal the contradictions of the capitalist mode of production, how it was the precursor of the socialist mode of production and of the
Karl Marx and the Close of His System labour value, he argues that the basic error in Marx's system resulted from a self-contradiction of Marx's law of value, namely how the rate of profit and the prices of production of the third volume of Marx's "Capital" contradict Marx's theory of value in the first volume. He maintains that since the law of value is not directly controlling in capitalist production, the theory of value must be abandoned. Bawerk also attacks Marx for downplaying the influence of supply and demand in determining permanent price, and for deliberate ambiguity with such concepts. "Karl Marx and the Close of His System"