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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Should Rename As Das Kapital Cliffnotes Unabridged
It would have been better had the author not been an anti-communist. He made straw man arguments out of Capital, useless book.
Author should have tried harder to capture the essence of Marx's work, not refute it (using straw man arguments.