The Formation of the Economic Thought of Karl Marx

Book excerpt: In this republication of the 1971 original, Ernest Mandel traces the development of Marx's economic ideas from the Economic and Philosophic Manuscripts to the completion of the Grundrisse. In a series of focused chapters he provides an overview of debates and discussions of subjects that are central to Marxist economic theory. Mandel focuses on Marx's concept of "alienation" which gained much currency among Marxists in the twentieth century, traces the development of debates surrounding the labor theory of value, Marx's writings on communism and "crisis." These debates and discussions started by Marx have not ended and remain evermore pertinent to the present day. These writings are vital not just to academics but also to those who wish to interpret and to change the world.