Concept
Capital: A Critique of Political Economy (Das Kapital. Kritik der politischen Ökonomie), also known as Capital, is a foundational theoretical text in materialist philosophy and critique of political economy written by Karl Marx, published as three volumes in 1867, 1885, and 1894. The culmination of his life's work, the text contains Marx's analysis of capitalism, to which he sought to apply his theory of historical materialism "to lay bare the economic laws of modern society", following from classical political economists such as Adam Smith, Jean-Baptiste Say, David Ricardo and John Stuart Mill. The text's second and third volumes were completed from Marx's notes after his death and published by his colleague Friedrich Engels. Das Kapital is the most cited book in the social sciences published before 1950. Marx's theory of historical materialism posits that the economic structure of society – in particular, the forces and relations of production – are the crucial factors in shaping its nature. Rather than a simple description of capitalism as an economic model, Das Kapital instead examines capitalism as a historical epoch and a mode of production, and seeks to trace its origins, development, and decline. Marx argues that capitalism is a form of economic organization which has arisen and developed in a specific historical context, and which contains tendencies and contradictions which will inevitably lead to its decline and collapse. According to Marx, Das Kapital is also a scientific work based on research and reasoning, and containing a critique of both capitalism and bourgeois political economists who argue that capitalism is a harmonious, efficient and stable system. In Das Kapital (1867), Marx proposes that the motivating force of capitalism is in the exploitation of labor, whose unpaid work is the ultimate source of surplus value. The owner of the means of production is able to claim the right to this surplus value because they are legally protected by the ruling regime through property rights and the legally established distribution of shares which are by law distributed only to company owners and their board members.
