Books

First edition of this selection from Marx's Capital, published in the series Petite biblioth�que �conomique fran�aise et �trang�re, the product of a surprising collaboration. Lafargue, a founder of the French socialist party and later Marx's son-in-law, of all the French Marxist writers closest to German orthodoxy, made the selection of the extracts. Pareto, whose economic and sociological views by no means coincided with those of Marx, provided the lengthy introduction. Einaudi 3771; Mattioli 2285; Sraffa 3881. Small octavo. Original brown cloth, spine and front board lettered in black. Frontispiece portrait of Marx with tissue guard. Spine ends and corners bumped and lightly rubbed, cloth bright and clean, front inner hinge expertly repaired, contents evenly browned as typical for the paper stock, upper tip of rear free endpaper strengthened with Japanese tissue. A very good copy in its original 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.