PART 3: Preface to the German Edition of 1883

The preface to the present edition I must, alas, sign alone. Marx, the man to whom the whole working class of Europe and America owes more than to any one else rests at Highgate cemetery and over his grave the first grass is already growing. Since his death, there can be even less thought

PART 4: Preface to the German Edition of 1890

Since the above was written, a new German edition of the Manifesto has again become necessary, and much has also happened to the Manifesto which should be recorded here. A second Russian translation – by Vera Zasulich – appeared at Geneva in 1882; the preface to that edition was written by Marx and myself.

PART 5: Preface to the English Edition of 1888

The Manifesto was published as the platform of the Communist League, a working-men’s association, first exclusively German, later on international, and, under the political conditions of the Continent before 1848, unavoidably a secret society. At a Congress of the League, held in November, 1847, Marx and Engels were commissioned to prepare for publication a

PART 6: Manifesto of the Communist Party

A spectre is haunting Europe—the spectre of communism. All the powers of old Europe have entered into a holy alliance to exorcise this spectre: Pope and Tsar, Metternich and Guizot, French Radicals and German police-spies. Where is the party in opposition that has not been decried as communistic by its opponents in power? Where

PART 6A: Bourgeois and Proletarians

The history of all hitherto existing society2 is the history of class struggles. Freeman and slave, patrician and plebeian, lord and serf, guild-master3 and journeyman, in a word, oppressor and oppressed, stood in constant opposition to one another, carried on an uninterrupted, now hidden, now open fight, a fight that each time ended, either in a

PART 6B: Proletarians and Communists

In what relation do the Communists stand to the proletarians as a whole? The Communists do not form a separate party opposed to other working-class parties. They have no interests separate and apart from those of the proletariat as a whole. They do not set up any sectarian principles of their own, by which

PART 6C: 1- Reactionary Socialism

1- Reactionary Socialism a. Feudal Socialism Owing to their historical position it became the vocation of the aristocracies of France and England to write pamphlets against modern bourgeois society. In the French Revolution of July, 1830, and in the English reform agitation, these aristocracies again succumbed to the hateful upstart. Thenceforth a serious political

PART 6C: 2- Conservative or Bourgeois Socialism

A part of the bourgeoisie is desirous of redressing social grievances in order to secure the continued existence of bourgeois society. To this section belong economists, philanthropists, humanitarians, improvers of the condition of the working class, organisers of charity, members of societies for the prevention of cruelty to animals, temperance fanatics, hole-and-corner reformers of

PART 6C: 3- Critical-Utopian Socialism and Communism

We do not here refer to that literature which, in every great modern revolution, has always given voice to the demands of the proletariat, such as the writings of Babeuf and others. The first direct attempts of the proletariat to attain its own ends, made in times of universal excitement, when feudal society was

PART 6C: 4- Position of the Communists in relation to the Various Existing Opposition Parties

Section II has made dear the relations of the Communists to the existing working-class parties, such as the Chartists in England and the Agrarian Reformers in America. The Communists fight for the attainment of the immediate aims, for the enforcement of the momentary interests of the working class; but in the movement of the

Theories of profits (19TH CENTURY- )

The early classical economists believed that profits would eventually decline. The Scottish economist Adam Smith (1723-1790) viewed the growth rate of capital accumulation (which took place at a rate higher than total output) as the cause. The English economist David Ricardo (1772-1823) argued that a decline in the general rate of profit was caused by the diminishing marginal

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Theory of clubs

Based on work by American economists Charles Tiebout (1924-1968) and James M. Buchanan (1919- ), theory of clubs studies the optimal size of groups of people with a shared consumption (pools, clubs, museums), and the optimal provision of the goods or services. A club good is excludable in that it is possible to prevent its consumption by entire

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Theory of consumer demand (20TH CENTURY)

Theory of consumer demand is the analysis of demand with regard to consumer behavior and rationale when changes occur in variable factors such as price, income, substitute goods. Choice and revealed preference are two important factors affecting consumer demand. Also see: axiomatic theories Source: P Newman, The Theory of Exchange (Englewood Cliffs, N.J., 1965) The

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Theory of income determination (20TH CENTURY)

Based on the income-determination model developed by English economist John Maynard Keynes (1883-1946), and later modified by American economist Paul Samuelson (1915- ), theory of income determination postulates that the level of national income is determined where aggregate demand equals aggregate supply. The crucial component of aggregate demand is the consumption function. Keynes asserted that his theory was different from those of

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Theory of income distribution (18TH CENTURY- )

Developed over a 250-year period by a wide variety of economists including Adam Smith (1723-1790) and Karl Marx (1818-1883), theory of income distribution analyzes the pattern of payment to the factors of production; namely rent, wages, profit and interest. Source: C J Bliss, Capital Theory and the Distribution of Income (New York, 1975) Measurement Main article: Income inequality metrics

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Theory of production (18th century- )

Analysis concerned with transforming factor inputs into outputs according to a production function. Production is dependent on technology, the mix of factor inputs, factor prices and marginal productivity. The Modern Cambridge School envisages an economic model which encompasses sociological, historical and psychological factors as well as pure economic ones. It attacks neo-classical economics for

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Theory of second best (1956)

Proposed by Canadian economist RICHARD LIPSEY (1928-1980) and Australian economist KELVIN LANCASTER (1924-1999), theory of second best assumes that if one of the conditions necessary to achieve Pareto-optimality is missing then the ‘second best’ position can only be reached by departing from all the other Paretian conditions. Also see: pareto efficiency Source: R G Lipsey and K

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Theory of the core (1881)

Developed by Irish-born economist and statistician Francis Edgeworth (1845-1926), theory of the core analyzes those parts of the economy which cannot be improved upon by individual or concerted action. Theory of the core is a fundamental equilibrium aspect of modern macroeconomics, the core coinciding with a set of price equilibria under perfect competition. Source: F Y Edgeworth,

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Thomas De Quincey

Although better known as a literary figure, Thomas de Quincey was also a staunch and very eloquent supporter of the Ricardian Classical School. He records his encounter with Ricardian theory in his famous Confessions of an Opium Eater: In this state of imbecility, I had, for amusement, turned my attention to political economy. My

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Thomas Hobbes

Ideas – Knowledge is derived from sense experience and from reason: From sense experience we derive historical knowledge and prudence, and from reason we derive scientific and philosophical knowledge and wisdom. – Scientific or philosophical reason is essentially the same as that which is employed in mathematics, moving from definitions, axioms, and postulates to

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