nd died in London, March 14, 1883. One of the most advanced
leaders of the modern socialist movement in Germany, he was a
brilliant university graduate both at Berlin and Bonn. Going at
once into journalism, Marx from the outset of his career was known
as a pronounced socialist. He became celebrated as collaborator
with Heine in conducting the journal which has since become the
most influential organ in the world of socialism, "Vorwaerts." He
was expelled successively from Germany, France, and Belgium, but
found a refuge in England, where he lived from 1849 till the close
of his life. The keynote of Marxist economy is the advocacy of the
claims of labour against those of capitalism. Marx was a skilled
linguist, and his philological talent enabled him to propagate his
views with special facility, so that he was the real founder of
international socialism. His famous social work, "Capital: A
Critical Analysis of Capitalist Production" ("Das Kapital"), which
was originally entitled "A Criticism of Political Economy,"
appeared in 1867, and has influenced the labour movement more than
any other composition in literature. A keen historical survey of
capital and also a vivid forecast, Marx's analysis of the economic
development of modern society has been justified in many respects
by subsequent events.

_I.--The Genesis of Capitalist Production_

Money and commodities are not capital, any more than are the means of
production and of subsistence. They need to be transformed into capital.
This transformation can only take place under conditions that separate
labourers from all property, and from the means by which they can
realise the profits of their labour; that is to say, from the possession
of their means of production. The process of this separation clears the
way for the capitalist system.

The economic structure of capitalistic society has developed from the
economic structure of feudal society. The dissolution of the latter set
free the elements of the former. The immediate producer, the labourer,
could only dispose of his own person after he had ceased to be attached
as a serf to the soil. Then, to be able to sell his labour wherever he
could find a market, he must further have escaped from the mediaeval
guilds and their rules and regulations, as from so many fetters on
labour. But these new freedmen, on the other han