Chapter 1 is the most important chapter in Capital, as well as the most difficult and the most controversial. An influential interpretation of Chapter 1 in recent decades has been the so-called “value-form interpretation� of Marx’s theory in general and Chapter 1 in particular.  The most important proponent of the value-form interpretation today, both in Germany and in the English-speaking world, is Michael Heinrich, and Heinrich’s work has emphasized the first chapter. Heinrich’s latest book in English is a detailed commentary of the first seven chapters of Volume 1 of Capital. The publication of an English translation of Heinrich’s book is an important event in Marxian scholarship and it is important to critically engage with this important book in order to advance our understanding of this critical foundational chapter. This book emphasizes the quantitative issue of whether the magnitude of value and socially necessary labour-time are determined in production or also depend on exchange and demand, which has been the main issue in the controversy over the value-form interpretation.

This book is the first complete commentary on Marx's manuscripts of 1861-63, works that guide our understanding of fundamental concepts such as 'surplus-value' and 'production price'.

eBook available with sample pages: 0203461754

Marx's only full draft of Volume III of Capital was written in the Economic Manuscript of 1864-1865. The Volume III that we know was heavily edited by Engels. It has been a long-standing question in Marxian scholarship whether or not there are significant differences between Marx's original manuscript and Engels's edited version. The publication of this English translation of Marx's original manuscript is thus an important event in Marxian scholarship. English-speaking Marxist scholars can finally compare Engels's Volume III with Marx's original manuscript.

This book provides a wide-ranging and in-depth reappraisal of the relation between Marx's economic theory in Capital and Hegel's Logic by leading Marxian economists and philosophers from around the world. The subjects dealt with include: systematic dialectics, the New Dialectics, materialism vs. idealism, Marx's 'inversion' of Hegel, Hegel's Concept logic, Hegel's Essence logic, Marx's levels of abstraction of capital in general and competition, and capital as Hegelian Subject.

This book is the first complete commentary on Marx's manuscripts of 1861-63, works that guide our understanding of fundamental concepts such as 'surplus-value' and 'production price'.

The recent publication of Marx's writings in their entirety has been a seminal event in Marxian scholarship. The hitherto unknown second draft of Volume 1 and first draft of Volume 3 of Capital, both published in the Manuscripts of 1861-63, now provide an important intermediate link between the Grundrisse and the final published editions of Capital. In this book, Enrique Dussel, one of the most original Marxist philosophers in the world today, provides an authoritative and detailed commentary on the manuscripts of 1861-63.

The main points which Dussel emphasises in this path-breaking work are:

• The fundamental category in Marx's theory is 'living labour' which exists outside of capital and which capital must subsume in order to produce surplus-value
• Theories of Surplus Value is not a historical survey of previous theories, but rather a 'critical confrontation' through which Marx developed new categories for his own theory
• The most important new categories developed in this manuscript are related to the 'forms of appearance' of surplus value.

The final part of the book discusses the relevance of the Manuscripts of 1861-63 to contemporary global capitalism, especially to the continuing underdevelopment and extreme poverty of Latin America.

This ambitious book presents a comprehensive new 'macro-monetary' interpretation of Marx's logical method in Capital, based on substantial textual evidence, which emphasises two main points: (1) Marx's theory is primarily a macroeconomic theory of the total surplus-value produced in the economy as a whole; and (2) Marx's theory is a monetary theory from beginning to end and the circuit of money capital - M - C - M - is the logical framework of Marx's theory.

Presents an empirical test of Marx's theory of the "falling rate of profit" by deriving estimates of the Marxian rate of profit and its determinants for the post-World War II US economy in order to determine whether the trends in these variables were in the directions predicted by Marx's theory.