Capital: a critique of political economy, vol. 3 3

Capital, Vol 3, subtitled The Process of Capitalist Production as a Whole, was prepared by Friedrich Engels from notes left by Marx & published in 1894. It's in seven parts: 1.The conversion of Surplus Value into Profit & the rate of Surplus Value into the rate of Profit 2.Conversion of Profit into Average Profit 3.The Law of the Tendency of the Rate of Profit to Fall 4.Conversion of Commodity Capital & Money Capital into Commercial Capital & Money-Dealing (Merchant's) Capital 5.Division of Profit Into Interest & Profit of Enterprise, Interest Bearing Capital 6.Transformation of Surplus-Profit into Ground Rent 7.Revenues & Their Sources The work is best known today for part 3, which in summary says that as the organic fixed capital requirements of production rise as a result of advancements in production generally, the rate of profit tends to fall. This result, which orthodox Marxists believe is a principal contradictory characteristic leading to an inevitable collapse of the capitalist order, was held, as a result of various contradictions in the capitalist mode of production, result in crises whose resolution necessitates the emergence of an entirely new mode of production as the culmination of the same historical dialectic that led to the emergence of capitalism from prior forms. From the Publisher: Das Kapital, Karl Marx's masterwork, is the book that above all others formed the twentieth century. From Kapital sprung the economic and political systems that in our time dominated half the earth and for half a century kept the world on the brink of war. Even today, one billion Chinese remain in the power of the Marxist system. Yet this important and powerful work has been passed over by many readers frustrated by Marx's difficult style and his preoccupation with nineteenth-century events of little relevance to today's reader. Now Serge Levitsky presents a new revised version of this masterpiece, carefully retranslated for the modern reader and abridged to emphasize the political and philosophical core of Marx's work, while trimming away much that is now unimportant. Here then is a fresh and highly readable version of a work whose ideas have influenced the lives of nearly every person alive today One of the most notorious works of modern times, as well as one of the most influential, "Capital" is an incisive critique of private property and the social relations it generates. Living in exile in England, where this work was largely written, Marx drew on a wide-ranging knowledge of its society to support his analysis and generate fresh insights. Arguing that capitalism would create an ever-increasing division in wealth and welfare, he predicted its abolition and replacement by a system with common ownership of the means of production. "Capital" rapidly acquired readership among the leaders of social democratic parties, particularly in Russia and Germany, and ultimately throughout the world, to become a work described by Marx's friend and collaborator Friedrich Engels as 'the Bible of the Working Class' Karl Marx's Capital is an incisive critique of private property and the social relations it generates. Living in exile in England, where this work was largely written, Marx drew on a wide-ranging knowledge of its society to support his analysis and create fresh insights. Arguing that capitalism would cause an ever-increasing division in wealth and welfare, he predicted its abolition and replacement by a system with common ownership of the means of production. Capital rapidly acquired readership among the leaders of social democratic parties, particularly in Russia and Germany, and ultimately throughout the world, to become a work described by Marx's friend and collaborator Friedrich Engels as 'the Bible of the working class'--Publisher Das Kapital, Karl Marx's seminal work, is the book that above all others formed the twentieth century. From Kapital sprung the economic and political systems that at one time dominated half the earth and for nearly a century kept the world on the brink of war. v. 1. Book I: The process of production of capital v. 2. Book II: The process of circulation of capital v. 3. Book III: The process of capitalist production as a whole.