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1st Pelican edition 1981, 19th print 1995. A modern english edition of 1894 original. A 4th volume was written by others from Marx's notes is in several volumes of the history of economics. Pt1 is about profits. Pt2 the general rate of profit Pt3 The rate of profit will fall in the long term as competition and exploitation rises. Pt4 Transformation of capital into commerce and money dealing. Pt5 Profits go into Interest, Credit and fictitious capital and the working of the banks. Pt6 Transformation of surplus profit into ground rent. Marx had only the record books of Engel's factory and publications from the British Museum Library. This was before nations collected economic statistics hence obscuring the facts. It was a slow read but an introductory text may be more illuminating. Such as
Ruis, Introducing Marx (1994/1999)
aka Marx for Beginners (1976) which includes a condensation of his theories. Thomas Piketty has written a modern version with the advantage of extensive statistics for many rich countries which he documents in many tables and figures. In
Capital in the Twenty-First Century
, implying it is a modern version of what Marx could have written demonstrating the immense concentration of wealth up to 1910 and growing back since 1970 due to the end of the crises of the early 20th century . Marx also developes formulas to model the economies fundamental laws. With the annual rate of return on capital exceeding the rate of growth will allow more rentiers to live without working in future, unless there are more crises or radical government policies.
Not as revolutionary as I had imagined. Marx is indebted to Sismondi, St. Thomas Aquinas and....Aristotle. Still an excellent read but Capital must be interpreted in the context of the period when it was first written. Engel's influence is seen in the narrow, distorted view of the English Industrial Revolution and England's growing, urban landscape.. Engels based his opinions on the Manchester's Cotton industry and a Lancashire that was experiencing mass Irish immigration before the 1845-48 famine. Lancashire's housing and hygiene problems were not representative of all of England.
Still a must for anyone interested in Politics or Economics though I wonder how many Marxist s have actually read it?
The reason I wanted to read the text in English was an effort to understand in depth the concepts of the marxist thought. The problem with the Greek translations is that they have been made under the guidance of the Greek communist party. As regards, their political views and limitations, in several cases, do not allow the average reader to comprehent the depth and the uniqueness of the thoughts of Marx, neither their universal applications. Nevertheless, the British Edition was very helpfull in order to complete the translation of the book "A companion to Marx's Capital" by David Harvey, which is full of references concerning the Pentguin Edition of The Capital
Penguin Classics have produced a good qualify, affordable must read, which should be read by anyone interested in "the current economic climate" -- it's all there, bearing an uncanny 19th century analysis of the same set of unresolved problems. Excellent introduction by Ernest Mandel.