Value Price and Profit

Value Price and Profit (German: Lohn Preis und Profit) is a transcript of an English-language lecture series delivered to the First International Working Mens Association on June 20 and 27 1865 by Karl Marx. The text was written between the end of May and June 27 in 1865 while Capital Volume I was in preparation and one year before it was published. Value Price and Profit was published as a book in 1898 by Marxs daughter Eleanor Marx Aveling. Those wanted to avoid reading the entirety of Capital Volume 1 will find an excellent introduction to Marxs ideas in this short publication. Karl Heinrich Marx (5 May 1818 – 14 March 1883) was a German philosopher economist historian sociologist political theorist journalist and socialist revolutionary. Marx completed his doctoral thesis titled The Difference Between the Democritean and Epicurean Philosophy of Nature in 1841 and submitted it to the University of Jena. He was awarded a Ph.D. in April 1841. In 1844 Marx befriended Friedrich Engels the German socialist and became a revolutionary communist. Marx’s The Poverty of Philosophy was published in 1847. Marx and Engels published The Communist Manifesto a political pamphlet summarizing their theories about the nature of society and politics in 1848. One of the most important political documents of the world this monumental text is highly influential and continues to remain widely read. The first volume Capital Volume I of his magnum opus Capital (Das Kapital) was published in 1867. Marx continued to work on the remaining two volumes which were published after his death by Engels. Capital Volume II was published in 1885 and Capital Volume III in 1894. Considered to be his masterwork Capital has been translated into all the major languages.