Karl Marx: Das Kapital: From Capitalist Exploitation to Communist Revolution
In his monumental work, Das Kapital, Karl Marx (1818-1883), tried to show that capitalism was both inefficient and immoral. His key to explaining capitalism is his labor theory of value, which he developed from ideas of Adam Smith and David Ricardo.
Marx argued that all profit, rent, and interest are "surplus-value", obtained by paying workers less than the value of their p...more
Marx was among the first to correctly identify Labor as Capital. For that alone, he is worth reading. Unfortunately, he was also a moralistic prig, who dropped his chain of logic in order to pursue ideological points. As a result, his...more