Karl MarxCapital (Das Capital): Includes Vol.1,2,3

Karl Marx's Capital can be read as a work of economics, sociology and history. He addresses a myriad of topics, but is most generally trying to present a systematic account of the nature, development, and future of the capitalist system. There is a strong economic focus to this work, and Marx addresses the nature of commodities, wages and the worker-capitalist relationship, among other things. Much of this work tries to show the ways in which workers are exploited by the capitalist mode of production. He also provides a history of past exploitations. Marx argues that the capitalist system is ultimately unstable, because it cannot endlessly sustain profits. Thus, it provides a more technical background to some of his more generally accessible works, like The Communist Manifesto.This study guide focuses on one component of Capital, Marx's schema of how the capitalist system functions. Marx argues that commodities have both a use-value and an exchange-value, and that their exchange-value is rooted in how much labor-power went into them. While traditionally people bought commodities in order to use them, capitalists use commodities differently. Their final goal is increased profit. Therefore, they put out money and buy commodities, in order to sell those commodities for a profit. The cycle then repeats itself. The reason why the capitalists are able to make a profit is that they only need to pay workers their value (how much it takes to keep them functional), but the workers produce more than that amount in a day. Thus, the workers are exploited. The capitalists are able to do this because they have more power, and control the means of production. Furthermore, the workers' character is negatively affected by the system. They don't own the products of their labor, and the repetitive work they have to do makes them little more than machines.Marx presents several definitions that will be important throughout his work, so it is very important to be clear on their meanings. A use-value corresponds to the usefulness of an object, and is internal to that object. For example, a hammer is a use-value because of its contributions to building. Its use-value comes from its usefulness. In contrast, a hammer's exchange-value comes from its value relative to other objects. For example, a hammer might be worth two screwdrivers. An object doesn't have an exchange value in itself, but only in its relationship with other objects.However, the fact that the hammer and screwdriver can be exchanged at all suggests that there must be something common between them, some means of comparison. Marx says that this is the object's value. Value means the amount of labor it takes to make the commodities. This labor theory of value is very important to Marx's theory. It implies that the price of commodities comes from how much labor was put into them. One implication of this is that objects with natural use-value, such as forests and other natural resources, do not have value because no labor went into them. One problematic question, then, is how such natural resources can have exchange-value (people do spend money on them) without benefiting from labor. It is also important to consider how Marx's conception of the roots of exchange value differs from modern economic theory. In modern theory, something's exchange value is rooted in people's subjective preferences. While the amount of labor required would be linked to the supply curve of a commodity, its exchange value is also determined by the demand curve. Marx focuses exclusively on labor.

As I am going through volume one this book, I find the anatomy of exploitation in capitalism and also how it historically affected the labour starting from working hours, conditions and in their physical and mental health. An enlightening work based on history of industrial growth. Surplus value theory stands abiding. Ofcourse, it has historical limitations. Lenin's" Imperialism, the highest stage of capitalism" also needs to be read and other later theorists who developed Marxist economic theory.But I find the font is too small and strenuous to my eyes. Better go for another edition with better print and larger font.

The ideology which resulted in a hundred million corpses is no less than 'you know what'.Perchance, it's pretty flawed (but is there anything that's perfect though?). I mean, I personally found certain concepts and things to be too utopian for one's own good, come on mates, utopia does not exist, not according to me atleast, if you've seen it prevailing anywhere, please do enlighten me. Long story short, this is a 'fine' theory on paper but is pretty immoral in practice, obviously because people weren't much bothered with "it" growing, but, were rather busy being zealots. But, you should definitely READ THE BOOK because then only then, will you be able to understand as to what you're dealing with. Marx wasn't coming from a place of spite neither were his thoughts. He gave what he deemed fine and what he thought was right, but, after all he was a human and humans are bound to be flawed and can make mistakes and can also overlook certain aspects to a particular equation. When he watered the seeds of his ideas he obviously did it to end the differences that existed and still exist in our species and to fill in the wedges, which eventually ended up in a blood bath, well, what can be said about smthng which has not been properly cooked.So, I personally do not agree to most of what this book has to offer.Anyway, do read the book.

To fully comprehend the book, as I’m not a economist i read it alone at night with pen, paper and dictionary by my side, once i grab or got a holding into what Marx is explaining, it only becomes interesting and make me more curious, this book is totally about economics and none about ‘political communism’ Mr Marx and Mr Engles beautifully and carefully explained the value of a product, labor, money, exploitation, market, profits commerce the list goes on. I’m sure once you finished the book no matter your orientation or subconscious prejudice against Marx and communism, you will feel enlightened and will open your eyes to exploitation and crony capitalism happening in unbelievable ways around our country and in our immediate neighborhood, this book pin point to the faults, greed and exploitation and that is exactly happening in the country, the vast majority of the population living in poverty, labors working like mule but without a decent home to sleep, the owner/ employer getting richer everyday yet the employees condition remains the same. Total capture of the means of production and market monopoly to exploit the masses. The list goes on and on. I highly agree and recommend it. Try it, it’s worth it. Damn worth it.