Bundle on Understanding Capitalism

Reading Capital to Smash Capitalism

In Capital, Marx provides a theory of the enduring contradictions of capitalism. Marx’s identification of the structure of capitalism, and the method by which he uncovered that structure, provide us with a guide to seek our own precise assessment of the structures of exploitation and oppression in our own time. A scientific attitude must govern our exploration of why social inequality is reproduced routinely in our world.

It is clear that the capitalist system lurches from one crisis to another. The bourgeois order is more concerned to save the capitalist system than to save humanity. Marxists need to understand precisely the nature of the crisis and see within the world as it is what elements there are to carry us forward into the world that is to be built.

A reading of Capital – and an understanding of the socialist tradition – requires that we develop a sober assessment of the subjective limitations of our political forces. To develop strategies to build the independent strength of the working class and the peasantry remains a key task of our time, as it was in Marx’s time, another long period of counter-revolution. The authors of this volume have tried to explain Capital’s concepts as clearly as possible and to offer a summary that should provoke discussion and debate.

This book encourages us to lift the cap from off our eyes, to read Marx’s Capital, and to join others in building the movement that is necessary both to save humanity from self-destruction and to advance humanity to a socialist future.

An Introduction to the Three Volumes of Karl Marx's Capital

The global economic crisis and recession that began in 2008 had at least one unexpected outcome: a surge in sales of Karl Marx's Capital. Although mainstream economists and commentators once dismissed Marx's work as outmoded and flawed, some are begrudgingly acknowledging an analysis that sees capitalism as inherently unstable. And of course, there are those, like Michael Heinrich, who have seen the value of Marx all along, and are in a unique position to explain the intricacies of Marx's thought.

Heinrich's modern interpretation of Capital is now available to English-speaking readers for the first time. It has gone through nine editions in Germany, is the standard work for Marxist study groups, and is used widely in German universities. The author systematically covers all three volumes of Capital and explains all the basic aspects of Marx's critique of capitalism in a way that is clear and concise. He provides background information on the intellectual and political milieu in which Marx worked, and looks at crucial issues beyond the scope of Capital, such as class struggle, the relationship between capital and the state, accusations of historical determinism, and Marx's understanding of communism. Uniquely, Heinrich emphasizes the monetary character of Marx's work, in addition to the traditional emphasis on the labour theory of value, thus highlighting the relevance of Capital to the age of financial explosions and implosions.

A History of Capitalism

The conquest of the Americas inaugurated the slow accumulation of resources and the imperceptible structural transformations that culminated in the Industrial Revolution. From that moment on, capitalism grew and expanded with a dynamism and adaptability that are now all too familiar, profiting from wars and even managing to rebound after a series of devastating economic crises.

In this highly-anticipated updated edition, Beaud extends one of the major strengths of the original: the interweaving of social, political, and economic factors in the context of history. At the same time, Beaud’s analysis provides a realistic and thorough examination of the developments of capitalism in the last twenty years, including globalization, the accelerating speed of capital transfer, and the collapse of the Soviet empire and the subsequent absorption of its population into the world market. This new edition also offers a completely revised format that integrates diagrams and flow-charts not previously available in the English-language edition.

Beaud offers a synthesis of this history of capitalism over five centuries, showing how it has been “simultaneously economic and political and ideological; simultaneously national and multinational; simultaneously liberating and oppressive, destructive and creative.” Interweaving the history of key events, movements, and ideas with both theoretical modeling and carefully selected quantitative data, Beaud shows how capitalism grew and expanded, to whose benefit, and at whose expense.

Labor and Monopoly Capitalism

Harry Braverman's years as an industrial worker gave him insight into the labour process and the conviction to reject the reigning wisdoms of academic sociology. Here, he analyzes the division of labour between the design and execution of industrial production.

Imperialism, the Highest Stage of Capitalism

Lenin's Imperialism is one of the most significant books of the twentieth century. Its significance arises not so much from the data it provides; nor does it arise from the sheer fact that it explains imperialism and the World War. The book is significant because it provides the steel-frame for a grand reconstruction of Marxism which becomes the basis for revolutionary praxis for the rest of the twentieth century. In his Introduction to this fresh edition, eminent Marxist economist Prabhat Patnaik places Lenin's text in its historical context, explains its relevance, its impact on revolutionary praxis in the twentieth century, and situates Lenin's theory of imperialism within the larger debate around this term that characterizes our own times.

Marx's Capital

There's really no escaping it: if you want to understand capitalism, you simply have to read Karl Marx's 'Capital'.

But this is easier said than done. 'Capital' is Marx's magnum opus consisting of more than 2,000 pages, over three volumes. It is a masterpiece of analysis, of relentlessly methodical and logical reasoning. So is 'Capital' only for the expert? No. 'Capital' can be read and understood by beginners as well, provided they are guided into it. Which is exactly what this volume does. Seven leading Marxist scholars lay out the conceptual framework of 'Capital' as well as investigate its various themes in essays written specially for this Reader.

Moreover, each of the authors has taken care to not limit him/herself to only preliminary explication of concepts, and has also gone into matters of advanced theory. The volume as a whole also has a broadly similar trajectory the first couple of essays lay the foundation, the middle four essays graduate from basic concepts to theoretical discussion and debates, and the last essay does not go into basic concepts at all, but applies the method of 'Capital' to theorise about contemporary capitalism.

This introductory Reader, then, does two things: it equips new readers with the basic conceptual keys that could unlock the vast treasure trove of Marx's analysis and insights, as well as offering fresh insights into Marx's magnificent work to the initiated.