Download An Introduction to the Three Volumes of Karl Marx’s Capital by Michael Heinrich PDF

By Michael Heinrich

The worldwide financial drawback and recession that started in 2008 had a minimum of one unforeseen final result: a surge in revenues of Karl Marx’s Capital. even though mainstream economists and commentators as soon as brushed off Marx’s paintings as outdated and unsuitable, a few are begrudgingly acknowledging an research that sees capitalism as inherently volatile. and naturally, there are these, like Michael Heinrich, who've obvious the worth of Marx all alongside, and are in a different place to give an explanation for the intricacies of Marx’s thought.

Heinrich’s glossy interpretation of Capital is now on hand to English-speaking readers for the 1st time. It has passed through 9 variations in Germany, is the traditional paintings for Marxist learn teams, and is used extensively in German universities. the writer systematically covers all 3 volumes of Capital and explains all of the uncomplicated facets of Marx’s critique of capitalism in a fashion that's transparent and concise. He presents historical past info at the highbrow and political milieu during which Marx labored, and appears at the most important concerns past the scope of Capital, comparable to type fight, the connection among capital and the kingdom, accusations of old determinism, and Marx’s knowing of communism. Uniquely, Heinrich emphasizes the financial personality of Marx’s paintings, as well as the normal emphasis at the hard work thought of price, therefore highlighting the relevance of Capital to the age of economic explosions and implosions.

“I listen from many folks who’d like to learn Capital, yet locate the object nearly prohibitively daunting. Michael Heinrich has written an outstanding little advent to Marx’s masterpiece. between its many virtues is that it takes funds and finance heavily, which many Marxists don’t. yet no matter if you’ve learn plenty of Marx, you'll be able to study much through studying this book.” —Doug Henwood, editor, Left enterprise Observer

“Whether one is a ‘traditional world-view Marxist’ like myself, or a scholar who desires to comprehend this global we are living in, or an activist who's devoted to altering it, Michael Heinrich’s succinct, lucid, compelling precis of the 3 volumes of Marx’s Capital is a ‘must-read’ in our time of crisis.” —Paul LeBlanc, professor of historical past, l. a. Roche collage; writer, From Marx to Gramsci and Marx, Lenin and the progressive Experience

“The top creation to Capital i've got learn. Heinrich has performed the area of Marx scholarship a superb carrier. In proposing Marx’s critique of the total constitution of capitalism, Heinrich manages to be complete, deep, and transparent while. whereas creating a large improve in interpreting Marx, he makes this e-book obtainable to readers who're fairly surprising with Marx.” —Michael Perelman, professor of economics, California nation collage, Chico; writer, The Invisible Handcuffs of Capitalism and The Confiscation of yankee Prosperity

“A tremendous presentation of Marx’s Capital—it will be not easy to visualize a extra well timed booklet. an individual who concept Marx was once beside the point to today’s circulation wishes in basic terms to learn this publication to determine issues another way. even if humans describe themselves as anarchists or socialists, we all can reap the benefits of knowing what Marx really wrote. needs to analyzing for everybody within the Occupy move and for everybody who desires to comprehend social relatives in modern capitalist societies.” —Paddy speedy, member, Union for Radical Political Economics; St. Francis College

“This is probably going the simplest brief advent to Marx’s Capital to ever seem in English. Michael Heinrich succeeds in offering the readers with a transparent and profound realizing of the center of the Marxian critique of political economic climate, because of his deep wisdom of the severe version of Marx and Engels’s amassed writings and of the German debate.” —Riccardo Bellofiore, professor of financial economics and historical past of monetary notion, college of Bergamo, Italy; co-editor, Re-Reading Marx: New views after the serious Edition

“A primary reinterpretation and knowing of all significant ‘chapters’ of Marx’s thought, a lot of which which stay earlier an issue of alternative interpretations or perhaps dispute between Marxist and Non-Marxist economists and, extra as a rule, social scientists: worth concept, funds and the credits approach, the ‘falling fee of profit,’ fiscal cycles and crises, and the circuit of social capital … a massive ebook for all these looking to understand the workings of capitalism, but in addition for the collage library and the students’ or scholars’ research of Marx’s theory.” —John Milios, professor of economics, nationwide Technical college of Athens, Greece

“The top and such a lot entire advent to Marx’s Capital there's. it's written in a such a lot obtainable sort and offers an admirably transparent rationalization of complicated principles. not like different Introductions to Marx’s Capital, it deals a worldly remark on all 3 volumes of Capital, presents a good serious statement at the secondary literature, and comprises pertinent case stories to demonstrate the modern relevance of Capital, together with an excursus on anti-Semitism, globalization, and imperialism. Its scholarly therapy of Capital is right away available, accomplished and modern. i don't comprehend of any greater creation to Capital for undergraduate scholars and non-specialist readers.” —Werner Bonefeld, division of Politics, college of York

“In merely 220 pages the writer achieves a precis of the 3 volumes of Capital: explaining the relationship among hard work, commodities, and cash, how surplus worth arises, what capital is, the position of banks and inventory exchanges, and from the place crises come up. along this he manages to slot in the historical past of Marxism, demystify the ambiguous time period dialectic, and throw in a last bankruptcy at the function of the nation in capitalism, all of the whereas refuting universal errors concerning the Marxian corpus.” —Stephan Kaufmann, Berliner Zeitung

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272-82. 2 Engels and the 'Prize Essay Competition in the Theory of Value* I Introduction In his preface to the second volume of Capital, Friedrich Engeis vigorously defended M a r x against the accusation that he had stolen his theory of surplus value from J. K. R o d b e r t u s . This charge of plagiarism dated from the 1870s and had been m a d e by b o t h R o d b e r t u s himself and by his disciple Rudolf Meyer. Its rebuttal was a matter of some urgency. In the early 1880s the d o m i n a n c e of Marxist ideas within G e r m a n Social Democracy (which had never been especially secure) was under attack from a powerful ' R o d b e r t u s movement led by Meyer, which exercised a considerable attraction for socialist-inclined intellectuals and threatened to seduce the party into a policy of compromise with the Bismarckian state, j u s t as Lassalle had d o n e earlier.

362, 365, 373. 36. Capital, vol. Ill, pp. 477-8, n. (cited above, pp. 13-14); N. Levine, The Tragic Deception: Marx Contra Engels (Oxford: Clio Books, 1975) pp. 206-7. 37. Can Europe Disarm? was written in 1893 and published (in German) in 1895; an English translation is in Henderson, op. 11, pp. 810-32, the cited passage coming from p, 810. On Hobson see J. Allelt, New Liberalism: the Political Economy of J. A. Hobson (Toronto: University of Toronto Press, 1981) ch. 5. 38. Oakley, Making of Marx's Critical Theory, ch.

II, pp. 66-71; cf. Marx to Engels, 2 August 1862, in K. Marx and F. Engels, Selected Correspondence (Moscow: Progress Publishers, 1965) pp. 128-33, and A. Oakley, Marx's Crititjue of Political Economy: Sources and Evolution (London: Roulledge & Kegan Paul, 1984) vol. I, pp. 1858, vol. II, pp. 81-8. 11. J. ) 77ie History of Marxism: (Hassocks: Harvester, 1982) pp. 327 32. Volume I: Marxism in Marx's Day Engels and the 'Prize Essay Competition' 39 12. K. Marx, Critique of Political Economy (London: Lawrence & Wisharl, 1971) p.

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