Wage, Price, Profit

· The Collected Works of Marx Book 21 · Marchen
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About this ebook

Delivered as a series of lectures in 1865 to the General Council of the International Working Men's Association in London and published posthumously in 1898, Wage, Price, Profit (Lohn, Preis, Profit) is a succinct and polemical intervention aimed at demystifying bourgeois economic assumptions for a working-class audience. Marx critiques the prevailing idea—defended at the time by trade union reformers—that wage increases cause inflation or reduce profits for employers, arguing instead that wages are a variable component of surplus value and that the real struggle lies in the extraction of unpaid labor. While tailored to immediate political needs, the text condenses key theoretical positions on value, labor, and exploitation drawn from his more complex economic writings.

Though lacking the formal abstraction of Das Kapital, the work moves with similar conceptual rhythms, in which surface appearances—prices, wages, profits—conceal deeper relations governed by labor-time and the appropriation of surplus. Marx’s insistence that capital is not a thing but a social relation finds a clear expression here, and the didactic tone does not dilute the metaphysical undertow: value remains an abstraction animated by labor, and the capitalist system a self-expanding totality whose logic appears autonomous. Framed as a practical rebuttal, the text nonetheless retains the structural rigor of dialectical exposition, offering a compressed glimpse into the machinery of accumulation and the illusion of “fair exchange” under wage labor. This edition supplements the primary text with reference materials that contextualize Marx’s philosophical lineage and clarify his terminology, making visible the intellectual scaffolding behind its economic clarity.

This modern Critical Reader’s Edition includes an illuminating afterword tracing Marx’s intellectual relationships with revolutionary thinkers and philosophers (including Hegel, Feuerbach, Engels, and Ricardo), containing unique research into his ideological development and economic-metaphysical theories, a comprehensive timeline of his life and works, a glossary of Marxist terminology, and a detailed index of all of Marx’s writings. This professional translation renders Marx’s dense, dialectical prose into modern language to preserve the original force and precision of the text. Combined with the scholarly amplifying material, this edition is an indispensable exploration of Marx’s classic works and his enduring Hegelian-Protestant influence in the political, religious, economic, and philosophical spheres.

About the author

Karl Marx (1818-1883) was a German philosopher, economist and revolutionary whose ideas have had a profound influence on political theory, economics and social science. Along with Friedrich Engels, Marx developed the theory of historical materialism, arguing that economic structures fundamentally shape social development. His seminal works, The Communist Manifesto and Das Kapital, criticise the capitalist system, arguing that it leads to class struggle and the exploitation of the working class. Marx envisioned a society in which class distinctions would dissolve, culminating in a classless, stateless society. His theories laid the foundations for various socialist and communist movements, influencing world politics and inspiring revolutions. Although controversial, Marx's analysis of capitalism and advocacy of social justice continue to be studied and debated, making him one of the most influential thinkers in modern history.

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