TOWARDS A HISTORY OF THE FIRST CHAPTER OF MARX’S CAPITAL (1929)
second part
Abstract
In the Critique of Political Economy Marx still does not make a clear distinction between value and exchange-value. Marx draws this distinction in clear and precise form in the first chapter of Volume I of Capital. What is it that convinced Marx to take a closer look at this question? Apparently he was persuaded to do so by the need to defend the theory of labour value against fierce attacks upon it by [Samuel] Bailey. The article analyzes Marx's criticisms of Samuel Bailey in Theories of Surplus Value and demonstrates how such criticisms led Marx to rework the exposition of Chapter I of Capital.
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References
BAILEY, S., 1825, A Critical Dissertation on the Nature, Measures, and Causes of Value; Chiefly in Reference to the Writing of Mr. Ricardo and his Followers. London: R. Hunter.
BROADHURST, J., 1842, Political Economy. London: Hatchard and Son.
MARX, K., 1968, Theories of Surplus-Value (Volume IV of Capital), vol. II. Moscow: Progress Publishers.
MARX, K., 1970, A Contribution to the Critique of Political Economy. Moscow: Progress Publishers.
MARX, K., 1971, Theories of Surplus-Value (Volume iv of Capital), Volume iii. Moscow: Progress Publishers.
MARX, K., 1976, Capital: A Critique of Political Economy, Volume i, introduced by Ernest Mandel, translated David Fernbach. London: Penguin.
MARX, K., 1983, Das Kapital (1867). In MEGA2, II.5, Berlim: Dietz.
MARX, K., 1989, Das Kapital (1883). In MEGA2, II.8, Berlim: Dietz.
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