Theories of Surplus Value
Marx examines explanations of profit and surplus in the physiocrats, Smith, Ricardo, and other economists. Critical reading clarifies categories within his own inquiry.
Understanding the text
Calling it “Volume IV of Capital” must not conceal manuscript status and editorial rearrangement. Later editions restore a different order. Drawn from the manuscripts of 1861–1863, these discussions compare explanations of rent, profit and accumulation. Their organisation around particular economists must not obscure conceptual problems recurring across several debates. Criticism of predecessors also exposes difficulties that Marx is still working to resolve.
1861–1863 manuscripts; first edition arranged by Karl Kautsky.
Key points
- 01
History of categories
Theory reveals questions a society can formulate. A doctrine also reveals which social relationships it assumes to be natural or permanent.
- 02
Productive labor
The distinction concerns relations to capital, not moral usefulness. A service can be socially useful without producing surplus value for a capitalist enterprise.
- 03
Income and production
Income forms require connection with production and distribution of surplus. Distinguish the production of surplus from its subsequent distribution among different recipients of income.
How to read it
Check your edition’s arrangement and compare quoted economists with their own writings.
Editions & sources
Summaries and key points are original editorial interpretations. They accompany reading the work and do not replace an edition of the text. Editorial method ↗