Value, Price and Profit

Value, Price and Profit

by Karl Marx
Epub (Kobo), Epub (Adobe)
Publication Date: 20/09/2019

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"Value, Price and Profit" (German: "Lohn, Preis und Profit") is a transcript of an English-language lecture series delivered to the First International Working Men's Association on June 20 and 27, 1865 by Karl Marx. The text was written between the end of May and June 27 in 1865, while Capital, Volume I was in preparation and one year before it was published. Value, Price and Profit was published as a book in 1898 by Marx's daughter Eleanor Marx Aveling.


In this polemic, Marx sought to refute the theoretical basis for the economic policy of Ricardian socialist John Weston. Weston said that "(1) that a general rise in the rate of wages would be of no use to the workers; (2) that therefore, etc., the trade unions have a harmful effect". In the process of criticizing Weston, Marx's explicates his theories of surplus value and the falling rate of profit in concise English.

ISBN:
1230003433232
1230003433232
Category:
Classic fiction
Format:
Epub (Kobo), Epub (Adobe)
Publication Date:
20-09-2019
Language:
English
Publisher:
Classic Books
Karl Marx

Karl Marx was born in the German city of Trier in 1818. He studied law in Bonn and Berlin at his father's insistence, but his true interests lay elsewhere and, in 1841, he received a doctorate in philosophy from the University of Jena.

For the next two years he wrote for radical left-wing newspapers before moving to Paris with his wife, Jenny; there he became a communist and met his lifelong friend and collaborator, Friedrich Engels.

They published their revolutionary pamphlet, The Communist Manifesto, in 1848 and Marx moved to London a year later. He spent the rest of his life there - often in considerable poverty - while he wrote his magnum opus of political theory, Das Kapital. Karl Marx died in 1883.

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