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  • Capital Volume 3

  • A Critique of Political Economy
  • By: Karl Marx
  • Narrated by: Derek Le Page
  • Length: 50 hrs and 4 mins
  • 4.5 out of 5 stars (4 ratings)

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Capital Volume 3

By: Karl Marx
Narrated by: Derek Le Page
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Publisher's Summary

After the detailed history and workings of the development of capitalism in Capital Volumes I and 2, Marx set out, in Capital Volume 3 to consider the future of capitalism, its direction and its inevitable fall from a series of crises and faults intrinsic to the system itself.

Published in 1894, 11 years after the death of Marx himself, Capital Volume 3 was the product of the untiring and meticulous work of Friedrich Engels working from Marx’s outline and notes and carried the subtitle The Process of Capitalist Production as a Whole.

In seven parts, Marx and Engels were determined to demonstrate that private property, competition and the market economy driven by the profit motive must lead to the demise of capitalism. They were convinced that only the curbing of the individual profit motive can lead to the end of the mass poverty and the destitution that was evident to Marx, Engels and many others concerned with the social inequities of civilisation continuing throughout history.

The following comes from chapter 5: 'Capitalist production, when considered in isolation from the process of circulation and the excesses of competition, is very economical with the materialised labour incorporated in commodities. Yet, more than any other mode of production, it squanders human lives, or living-labour, and not only blood and flesh, but also nerve and brain. Indeed, it is only by dint of the most extravagant waste of individual development that the development of the human race is at all safeguarded and maintained in the epoch of history immediately preceding the conscious reorganisation of society.'

The seven parts of Capital Volume 3 are:

  1. The conversion of Surplus-Value into Profit and the Rate of Surplus-Value into the Rate of Profit.
  2. Conversion of Profit into Average Profit.
  3. The Law of the Tendency of the Rate of Profit to Fall.
  4. Conversion of Commodity-Capital and Money-Capital into Commercial Capital and Money-Dealing Capital (Merchant's Capital).
  5. Division of Profit Into Interest and Profit of Enterprise. Interest Bearing Capital.
  6. Transformation of Surplus-Profit into Ground Rent.
  7. Revenues and Their Sources.

Derek Le Page, in his masterly but temperate reading, sustains and clarifies the arguments and vision of Marx and Engels which had, and continues to have, such an impact on the world. In support of this unabridged recording there is a downloadable PDF which sets out some of the tables used by the authors. Translation: Institute of Marxism-Leninism, Moscow.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio on our Desktop Site.

Public Domain (P)2019 Ukemi Productions Ltd

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Book is better read than listened to

The narrator (Derek Le Page) was clear and enunciation was clean. The subject matter was disjointed because Engles (editor) was working from notes rather than a completed draft, and he wanted to leave the book as is. As with other volumes of Capital, the numerous and detailed footnotes interrupts the flow of the argument. I found this book difficult to complete, and my overall comprehension of Marx's analysis is very low. I would have to read this volume in order to increase understanding of Marx's arguments.

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