Publication of “Das Kapital” Volume 1 - September 14, 1867

On September 14, 1867, Karl Marx’s seminal work, “Das Kapital: Kritik der politischen Ökonomie” (translated as “Capital: Critique of Political Economy”), was published for the first time in Hamburg, Germany. This publication marked a pivotal moment in the history of socialist thought and economic theory.

Context and Background

Karl Marx, a German philosopher, economist, and political theorist, had been developing his critique of political economy throughout the mid-19th century. Born in 1818, Marx had already established himself as a prominent thinker with works such as “The Communist Manifesto” (1848), co-authored with Friedrich Engels. “Das Kapital” was Marx’s attempt to scientifically analyze the capitalist mode of production and its effects on labor, capital, and human society.

Key Concepts

“Das Kapital” Volume 1 focuses on the processes of production in capitalist economies. It introduces several key concepts and theories:

• Commodity and Value: Marx begins with an analysis of commodities, emphasizing the dual nature of their value—use value and exchange value. He introduces the labor theory of value, arguing that the value of a product is determined by the socially necessary labor time required for its production.

• Surplus Value: A central theme is Marx’s theory of surplus value, where he posits that the difference between the value produced by labor and the wages paid to workers constitutes surplus value, which is extracted by capitalists, leading to profit.

• Exploitation: Marx discusses how workers are exploited under capitalism as they produce more value than they receive in wages, which underpins the accumulation of capital.

Impact and Legacy

The initial release of “Das Kapital” did not cause an immediate sensation. However, over time, it gained influence, especially among socialist and communist groups. The volume offered a comprehensive critique of capitalism, which later became a cornerstone of Marxist theory and the broader socialist movement.

Marx’s analysis laid the foundation for future critiques of economic systems and inspired numerous political movements aiming for social and economic reforms. “Das Kapital” continues to be a seminal text in economic and social theory, studied for its depth and the challenge it poses to capitalist ideology.

Subsequent Volumes

Although Volume 1 was the only volume of “Das Kapital” that Marx completed and published in his lifetime, two more volumes were published posthumously by Friedrich Engels, based on Marx’s notes, further expanding on the themes and analyses introduced in the first volume.

“Das Kapital” remains a fundamental critique of political economy, shaping the discourse around economics, labor rights, and societal structures for generations.