Theories of Surplus Value
|Part of a series on|
|Part of a series on|
Theories of surplus-value (German: Theorien über den Mehrwert) is a draft manuscript written by Karl Marx between January 1862 and July 1863. It is mainly concerned with the West European theorízing about Mehrwert (added value or surplus-value) from about 1750, critically examining the ideas of British, French and German political economists about wealth creation. At issue are the source, forms and determinants of the magnitude of surplus-value, and Marx tries to explain how, after failing to solve basic contradictions in its labour theories of value, the classical school of political economy eventually broke up.
Context in which the manuscript was written 
Theories of Surplus Value was part of the large manuscript of 1861–63, entitled by Marx A Contribution to the Critique of Political Economy and written as the immediate sequel to the first part of A Contribution to the Critique of Political Economy published in 1859. The total 1861–63 manuscript consists of 23 notebooks (the pages numbered consecutively from 1 to 1472) running to some 200 printed sheets in length: it is the first systematically worked out draft — though still only rough and incomplete — of all four volumes of Capital. Theories of Surplus Value forms the longest (about 110 printed sheets) and most fully elaborated part of this huge manuscript, and it is the first and only draft of the fourth, concluding volume of Capital. Marx called this volume, as distinguished from the three theoretical volumes of Das Kapital, the historical, historico-critical, or historico-literary part of his work.
Marx wrote this manuscript while he was also writing journalistic articles to make money, especially on the American Civil War (for the New York Daily Tribune). In April 1862, he was in dire financial straits - he owed 20 pounds for rent which he could not pay, and he had no money to redeem pawned clothing of his children and of the maid, Helene Demuth. In August 1862, he travelled to Zaltbommel in the Netherlands, to see his uncle Lion Philips for financial help. However, Philips was away on a trip himself, and Marx travelled on to Trier to see his mother, who, however, did not give him any money. In September, Marx applied for a job in an English railway office, with the help of his cousin August Philips, but failed to get it because of his illegible handwriting. In October, Marx received 20 pounds from his cousin August Philips, and in November, when Marx was unable to pay for coal and groceries, Friedrich Engels also sent him money.
Marx began to write Theories of Surplus Value within the framework of the original plan of his Critique of Political Economy as he had projected in 1858–62. On the basis of what Marx says about the structure of his work in his introduction to the first part of A Contribution to the Critique of Political Economy, in his letters of 1858–62 and in the 1861–63 manuscript itself, this plan can be presented in the following schematic form:
Plan for the Critique of Political Economy as projected by Marx in 1858–1862:
1. [Introduction: Commodity and Money]
2. Capital in general:
1. The production process of capital:
1. Transformation of money into capital
2. Absolute surplus-value
3. Relative surplus-value
4. The combination of both
5. Theories of surplus-value
2. The circulation process of capital
3. The unity of the two, or capital and profit
3. The competition of capitals
5. Share capital
2. Landed property
4. The state
5. Foreign trade
6. The world-market
Theories of Surplus Value was originally conceived by Marx only as a historical excursion in the section of his theoretical study of “capital in general”. This was to conclude the section on the process of production of capital. This ambitious plan proved to be more than Marx could undertake; he was effectively burned out before had completed the study of capital. Even the publication of Theories of surplus-value did not make all of Marx's writing on political economy available to the public; this task was only fulfilled decades later, with the publication of the Grundrisse, the Results of the Immediate Production Process and various other manuscripts.
Publication history 
In his preface (dated May 5, 1885) to his edition of Volume II of Das Kapital and in several letters during the following ten years, Friedrich Engels had indicated his intention to publish the manuscript of Theories of surplus-value. However, although he succeeded in publishing the second and third volume of ‘’Das Kapital’’, he was unable to publish the Theories before he died in 1895.
- In 1905-10, Karl Kautsky published a first version of Marx’s manuscript in three volumes, with Dietz publishers in Stuttgart. However, Kautsky rearranged the original sequence of topics discussed in the notebooks, and deleted or modified some text; for this reason, his edition is not regarded as scientifically accurate (though it sheds light on how Kautsky understood Marx). Kautsky’s first volume of Marx’s notes dealt with the theories of surplus value up to Adam Smith, the second volume with Ricardo (in two parts), and the final one with the breakup of the Ricardian school and “vulgar economics”.
- In 1951, G.A. Bonner and E. Burns published an English translation of excerpts from the German volumes published by Kautsky, with Lawrence & Wishart in London, and International Publishers in New York.
- A complete, annotated three-volume edition was first published in German in 1956 by the Institute of Marxism-Leninism of the Socialist Unity Party, in East Germany. The text was subsequently included in the Marx Engels Werke published by Dietz, in Volumes 26.1 (1965), 26.2 (1967), and 26.3 (1968).
- In 1968, Progress publishers in Moscow together with the London publisher Lawrence & Wishart published an annotated English edition of the whole manuscript (in three volumes, edited by S. Ryazanskaya, translated by Renate Simpson and others).
- The definitive German edition of Theories of surplus value is published in the Marx-Engels Gesamtausgabe (“MEGA II”), section II, parts 3.2 (1977), 3.3 (1978) and 3.4 (1979).
- The whole text appeared again also in the English Marx/Engels Collected Works, Volumes 30 (1989), 31 (1989), 32 (1990), and 33 (1991). This English version is based on the German MEGA II edition.
- The older three-volume edition of Progress Publishers and Lawrence & Wishart went out of print, but was republished in one 1,605 page volume by Prometheus Books, in 2000.
The work's scope is notably broad. Marx includes studies of a diverse set of writers, including James Steuart, the Physiocrats, Adam Smith, Germain Gardinier, Sismondi, Davenant, William Petty, George Berkeley, Charles Ganilh, David Ricardo, Lauderdale, Destutt de Tracy, Francois-Louis-Auguste Ferrier, Heinrich Friedrich von Storch, Nassau Senior, Jean-Baptiste Say, Pelligrino Rossi, Chalmers, Francois Quesnay, John Locke, Dudley North, Rodbertus, James Anderson, Roscher, John Barton, Nathaniel Forster, Thomas Hodgskin, Henry Carey, Hopkins, James Deacon Hume, Thomas Malthus, Robert Torrens, James Mill, Pierre Prevost, Thomas De Quincey, Samuel Bailey, McCulloch, John Stuart Mill, Percy Ravenstone, John Francis Bray, Ramsay, Cherbuliez, and Richard Jones.
- A. Anikin, A science in its youth: pre-Marxian political economy. Moscow: Progress Publishers, 1975.
- Simon Clarke, Marx, Marginalism and Modern Sociology: From Adam Smith to Max Weber. London: Macmillan, 1982.
- Enrique Dussel, "The four drafts of Capital. Towards a new interpretation of the dialectical thought of Marx". ‘’Rethinking Marxism’’, Vol. 13, No. 1, Spring 2001, pp. 10-25.
- John Eatwell, “Controversies in the theory of surplus value: old and new”. Science & Society, Vol. 38, No. 3, Fall 1974, pp. 281–303.
- E.K. Hunt, Property and Prophets: The Evolution of Economic Institutions and Ideologies, 7th edition. M.E. Sharpe, 2002.
- Isaak Illich Rubin, A History of Economic Thought. London: Ink Links, 1979.
- Ronald L. Meek, The development of the concept of surplus in economic thought from Mun to Mill. Phd dissertation, Cambridge University, 1949.
- Dietmar Scholz, Zum Platz der "Theorien über den Mehrwert", IV. vierter Band des "Kapital", im philosophischen Denken von Karl Marx. Phd dissertation in economic history, University of Jena, 1981.
- Karin Wetzig, Die theoriengeschichtlichen Lehren aus Karl Marx' "Theorien über den Mehrwert" für die Geschichte der Politischen Ökonomie. Phd dissertation in economics, University of Leipzig, 1980.
||Constructs such as ibid., loc. cit. and idem are discouraged by Wikipedia's style guide for footnotes, as they are easily broken. Please improve this article by replacing them with named references (quick guide), or an abbreviated title. (July 2012)|
This article is largely based on public-domain text from www.marxists.org:
- Preface (1923). Theories of Surplus Value. Moscow: Progress Publishers.
- Hal Draper, The Marx-Engels Chronicle. A Day-by-Day Chronology of Marx and Engels's Life and Activity. New York: Schocken Books, 1985, p. 111.
- Ibid., p. 113.
- Ibid., p. 114.
- Marx, Karl. Theories of Surplus Value. Moscow: Progress Publishers. pp. Table of Contents.