Value, Price and Profit

Part of a series on
Marxism
Theoretical works Economic and Philosophic Manuscripts of 1844 The Condition of the Working Class in England The German Ideology The Communist Manifesto The Eighteenth Brumaire of Louis Bonaparte Grundrisse Capital Critique of the Gotha Programme Dialectics of Nature The Origin of the Family, Private Property and the State What Is to Be Done? The Accumulation of Capital Philosophical Notebooks Terrorism and Communism The State and Revolution Essays on Marx's Theory of Value History and Class Consciousness Prison Notebooks The Black Jacobins On Practice Theses on the Philosophy of History Dialectic of Enlightenment A Critique of Soviet Economics The Long Revolution Guerrilla Warfare The Wretched of the Earth Reading Capital The Society of the Spectacle Pedagogy of the Oppressed Ideology and Ideological State Apparatuses Ways of Seeing How Europe Underdeveloped Africa Social Justice and the City Women, Race and Class Marxism and the Oppression of Women Imagined Communities Hegemony and Socialist Strategy The Sublime Object of Ideology Time, Labor and Social Domination The Age of Extremes The Origin of Capitalism Empire Late Victorian Holocausts Change the World Without Taking Power Caliban and the Witch An Introduction to the Three Volumes of Karl Marx's Capital Capitalist Realism Capital in the Anthropocene Towards Socialism or Capitalism? The Revolution Betrayed Literature and Revolution The Struggle Against Fascism in Germany Their Morals and Ours: The class foundations of moral practice
Philosophy Alienation Dialectical materialism Ideology Philosophy of nature Philosophy in the Soviet Union Reification Marxist ethics
Critique of political economy Capital (accumulation) Crisis theory Commodity Concrete and abstract labor Factors of production Falling profit-rate tendency Means of production Mode of production Capitalist Socialist Productive forces Scientific socialism Surplus product Socially necessary labour time Value-form Wage labour
Sociology Base and superstructure Bourgeoisie Class Class consciousness Classless society Commodity fetishism Communist society Critical theory Cultural hegemony Democracy Dictatorship of the proletariat Soviet Radical Democratic centralism Exploitation False consciousness Human nature Immiseration Imperialism Lumpenproletariat Metabolic rift Proletariat Private property Relations of production State theory Working class
History Class struggle Historical determinism Primitive accumulation Proletarian revolution World revolution Theory of historical trajectory
Aspects Aesthetics Archaeology Criminology Cultural analysis Cultural Studies Ethics Film theory Geography Historiography Literary criticism Marxism and religion Sociology Philosophy
Common variants Structural Autonomist Marxism–Leninism Guevarism Maoism Titoism Trotskyism Neo-Gramscianism Regulation school Third-worldist Hegelian Budapest School Frankfurt School Humanist Neue Marx-Lektüre Open Political Praxis School Both Black Classical Communization Feminist Leninism Neo Post Western
Other variants Analytical Austromarxism Centrist Council communism Eurocommunism Instrumental Marxism–Leninism–Maoism Nkrumaism Orthodox Revisionist Situationist Socialism with Chinese characteristics Wertkritik
People Marx Engels Morris Lafargue Rubin Kautsky Plekhanov Du Bois Connolly Lenin Luxemburg Liebknecht Kollontai Bogdanov Stalin Trotsky Grossman Zinoviev Bloch Lukács Korsch Bukharin Ho Serge Gramsci Galiev Pashukanis Bordiga Benjamin Mao Basu Mariátegui Horkheimer Dutt Brecht Marcuse Kalecki Fromm Cox Lefebvre James Adorno Padmore Sartre Deutscher Hoxha Beauvoir Sombart Nkrumah Sweezy Emmanuel Hill Bettelheim Draper Jones Hobsbawm Althusser Hinton Williams Freire Mandel Sivanandan Miliband Cabral Thompson Bauman Fanon Kosik Berger Castro Guevara Liebman Heller Guattari Mészáros O'Connor Wallerstein Mies Tronti Debord Amin Hall Nairn Parenti Negri Jameson Gonzalo Dussel Harvey Laclau Bahro Poulantzas Vattimo Badiou Harnecker Altvater Anderson Löwy Vogel Sison Easthope Rancière Berman Przeworski Cohen Therborn Losurdo Ture Postone Rodney Bannerji Spivak Newton Sakai Wood Federici Wolff Balibar Eagleton Kurz Hartsock Rowbotham Mouffe Geras Brenner Davis Massey Cleaver Bishop Haraway Panitch Clarke Jessop Davis Wright Fraser Burawoy Holloway Rose Screpanti Tamás Hampton Cano Žižek Berardi Sankara Hennessy McDonnell Douzinas Roediger Foster West Ghandy Marcos Heinrich Prashad Kelley Dean Lordon Linera Fisher Li Coulthard Malm Seymour Toscano Bhattacharya Moufawad-Paul Srnicek Horvat Hamza Saito
Journals Antipode Capital & Class Capitalism Nature Socialism Constellations Critique: Journal of Socialist Theory Historical Materialism Mediations Monthly Review New Left Review Race & Class Rethinking Marxism Science & Society Socialist Register
Related topics 21st-century communist theorists Anarchism Creative destruction Conflict theory Criticism of Marxism Communism Communalism Economic determinism History of communism Left-wing politics Marxian economics New Left Old Left Municipalism Political ecology Socialism Authoritarian Democratic Market Reformist Revolutionary Social Utopian Left-wing populism Universal class Vulgar Marxism Economism Worker cooperative Workers' council
Outline Communism portal Philosophy portal Socialism portal
v t e

"Value, Price and Profit" (German: "Lohn, Preis und Profit") is a transcript of an English-language lecture series delivered to the First International Working Men's Association on June 20 and 27, 1865 by Karl Marx. The text was written between the end of May and June 27 in 1865, while Capital, Volume I was in preparation and one year before it was published. Value, Price and Profit was published as a book in 1898 by Marx's daughter Eleanor Marx Aveling.^[1][2]

In this text, Marx sought to refute the theoretical basis for the economic policy of Ricardian socialist John Weston. Weston said that "(1) that a general rise in the rate of wages would be of no use to the workers; (2) that therefore, etc., the trade unions have a harmful effect".^[2] In the process of criticizing Weston, Marx's explicates his theories of surplus value and the falling rate of profit in simple and concise English.