They believed that the purpose of the market system was solely to facilitate the trading of commodity inputs, such as land, capital, and labour, in order to generate profits from the sale of commodity products. Marx contends that classical economists and philosophers did not adequately grasp the nature of capital.
Workers in factories are subjected to exploitation at the hands of factory owners, and they are not given ownership of the goods that are produced as a result of their labour.
Marx contends that an economic system predicated on private profit is doomed to fail due to its very nature. In the field of social science, the book with the most citations for its publication before 1950 is Karl Marx’s Das Kapital. Marx did not live long enough to see the publication of the second and third sections that he had planned nonetheless, his colleague Friedrich Engels was able to complete them from his notes and publish them after Marx’s passing. In contrast to classical political economists such as Adam Smith, Jean-Baptiste Say, David Ricardo, and John Stuart Mill, Karl Marx sought to uncover the economic patterns that underpinned the capitalist mode of production. Das Kapital was originally published between 18. Capital of Karl Marxĭas Kapital, also known as Capital: A Critique of Political Economy or sometimes just Capital (German: Das Kapital 1867–1883), is a foundational theoretical text in materialist philosophy, critique of political economy, and politics written by Karl Marx. The first volume was released in Berlin in the year 1867, while the second and third volumes, which were edited and released posthumously by his colleague Friedrich Engels (1820–95), came out in 18, respectively. He stated that he wanted to expose “the economic law of motion of modern society” as his motivation for writing the book. In this book, Marx explains his theory of the capitalist system, including its dynamism and its tendencies toward self-destruction. Das Kapital is one of the most influential works written by Karl Marx (1818–83), who was a German-born economist and philosopher who lived during the 19th century.
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