Get An Introduction to the Three Volumes of Karl Marx's Capital PDF

By Michael Heinrich

ISBN-10: 1583672885

ISBN-13: 9781583672884

Alex Locascio (trans.)

The worldwide financial drawback and recession that all started in 2008 had at the least one unforeseen end result: a surge in revenues of Karl Marx's Capital. even though mainstream economists and commentators as soon as pushed aside Marx's paintings as outdated and mistaken, a few are begrudgingly acknowledging an research that sees capitalism as inherently risky. and naturally, there are these, like Michael Heinrich, who've obvious the price of Marx all alongside, and are in a special place to give an explanation for the intricacies of Marx's thought.
Heinrich's smooth interpretation of Capital is now on hand to English-speaking readers for the 1st time. It has passed through 9 variants in Germany, is the traditional paintings for Marxist examine teams, and is used commonly in German universities. the writer systematically covers all 3 volumes of Capital and explains all of the simple features of Marx's critique of capitalism in a fashion that's transparent and concise. He presents heritage info at the highbrow and political milieu during which Marx labored, and appears at the most important matters past the scope of Capital, corresponding to type fight, the connection among capital and the nation, accusations of ancient determinism, and Marx's knowing of communism. Uniquely, Heinrich emphasizes the financial personality of Marx's paintings, as well as the conventional emphasis at the hard work concept of price, this highlighting the relevance of Capital to the age of monetary explosions and implosions.

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Additional info for An Introduction to the Three Volumes of Karl Marx's Capital

Sample text

In this sense, the categories that describe the capitalist mode of production are “historical” and in no way transhistorical categories; they are valid only for the historical phase in which capitalism is the dominant mode of production. 3 Theory and Critique Within worldview Marxism, Marx was regarded as the great economist of the workers’ movement who had developed a “Marxist political economy” that one could oppose to “bourgeois economy,” that is, the schools of economics that regarded capitalism positively: Marx had supposedly TH E OB J ECT O F C R I T I Q U E 33 taken over the labor theory of value of Adam Smith (1723–1790) and David Ricardo (1772–1823), the most important representatives of socalled classical political economy.

The property of being a subordinate or a superior arises from the specific relationship between A and B within a military hierarchy, but are not inherent to them as people outside of this hierarchy. In the case of value, a property that only exists within a relationship appears to be an objective property that is also inherent outside of this relationship. If we attempt to locate this objectivity outside of the exchange relationship, it eludes our grasp. ” Traditional Marxism was also taken in by the illusion that value was a property of an individual commodity.

This is the expression of a commodity’s value in another: x commodity A = y commodity B 58 A N I N T R O D U CT I O N TO K A R L M A R X ’ S C A P I TA L Or Marx’s famous example: 20 yards of linen = 1 coat The value of the linen is expressed, and the coat serves as a means of expressing the value of the linen. Both commodities thus play completely different roles in the form of expression of value, and Marx assigns different terms to these roles. The value of the first commodity (linen) is expressed as “relative value” (meaning in relation to something else); this commodity is in the relative form of value.

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An Introduction to the Three Volumes of Karl Marx's Capital by Michael Heinrich

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