Books

Second edition of volume one of Marx's polemical masterpiece of political economy, revised by the author from the first edition of 1867. Only the first volume of this most influential of books was published in Marx's lifetime, and though the later volumes were edited by Engels from the author's manuscript, the revised edition of volume I was edited by Marx himself and contains the first printing of his ten page afterword. It was the summation of over twenty years research in the reading rooms of the British Museum, and followed on from his earlier work Zur Kritik der politischen Oekonomie, printed in 1859. Rubel 633. Octavo (212 x 135 mm). Contemporary purple half sheep, spine lettered in gilt, mottled paper sides. Bound without half-title and terminal advertisement leaf. Pencilled annotations. Somewhat worn, front free endpaper lacking, rear endpapers with pencilled scribbling and contemporary ownership stamp to rear free endpaper, contents browned, stained, and foxed, a few signatures standing a little proud, paper repairs to title page and to fore edge of pp. 3-10 not affecting text, frequent paper repairs in gutter often with loss to lettering, pp. 359-362 reinserted at head, various minor chips occasionally with some loss to lettering. A sound copy in a contemporary German binding.

"Das Kapital," written by Karl Marx, is a seminal work critiquing the capitalist system's foundations and mechanisms. Published in 1867, this extensive analysis of capitalism delves into its economic processes, the exploitation inherent within, and its eventual contradictions which Marx believed would lead to its downfall. Marx introduces key concepts such as commodity, value, surplus value, and the labor theory of value, arguing that the value of a commodity is determined by the labor required for its production. He criticizes how capitalists profit by exploiting workers, paying them less than the value of their labor while selling the products for their full value. Marx's critique extends to the dynamics of capital accumulation, technological advancements, and their effects on the proletariat, predicting increasing capital centralization and crises stemming from capitalism's internal contradictions. "Das Kapital" covers the circulation and distribution of capital, explaining how surplus value is divided among different classes and sectors, leading to cycles of boom and bust. Despite its influence, "Das Kapital" has faced criticism for its total failure in economic predictions, such as the underestimation of capitalism's adaptability and the overemphasis on the labor theory of value. Critics argue Marx's predictions of escalating class struggle and the proletariat revolution have not materialized as expected, questioning his views on human nature and the efficiency of market mechanisms. Nonetheless, "Das Kapital" remains a pivotal work in economic and political thought, offering a deep, if wrong, critique of capitalism and its socio-economic impacts.