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(out of stock until March 2006)
In
his monumental work, Das Kapital, Karl
Marx (1818-1883), tried to show that capitalism
was both inefficient and immoral. His key to explaining capitalism
is his labor theory of value, which he developed from ideas
of Adam
Smith and David Ricardo.
Marx
argued that all profit, rent, and interest are "surplus-value",
obtained by paying workers less than the value of their products.
He maintained that the living conditions of the workers always
tend to deteriorate that competition automatically creates monopoly,
and that the business cycle demonstrates the wastefulness of
capitalism.
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Also by Karl Marx: 