Understanding Marx's Capital: A Reader's Guide

by Rob Sewell, Adam Booth

Marx's Capital revolutionised the subject of political economy. Written over 150 years ago, it revealed for the first time the real workings of capitalism. It was, however, met with a wall of silence from mainstream economists and the establishment. Despite this, Capital became regarded in the labour movement as the Bible of the working class. Basing himself on the most advanced material of the age, Marx was able to explain the mysteries that the classical economists were incapable of resolving. What is value? Where does profit come from? How are workers exploited? Why does the system face periodic crises? Marx was able to answer these questions by analysing the main contradictions of capitalism. He was able to explain how the system would eventually reach its limits and enter into decline and demise. Like other sciences, political economy has its own terminology, which can sometimes be difficult to digest. Those prepared to overcome such hurdles, however, will find that Marx's Capital contains a veritable feast of ideas and a new way of looking at the world. Written by authors from the International Marxist Tendency, this book is intended to help guide readers through the pages of volume one of Capital . The aim is to bring out the main themes and ideas contained within Marx’s economic writings. Understanding Capital allows us to understand the crisis-ridden world around us today - and, most importantly, how we can radically transform it. " The philosophers have only interpreted the world, in various ways, " Marx famously asserted. " The point, however, is to change it. "

Genres: Politics, Theory, Economics

296 pages, Paperback

Published July 3, 2017

Reviews

[Olive Rickson · Rating 5 out of 5]

This was a fantastic introduction and companion to Volume 1 of Marx’s Capital, this is one text which contributes to Marx rather than obscures or misleads and realises the objective of Marx that is namely arming the workers with a real understanding of capitalism and its dynamics which remains shrouded in mysticism even to the bourgeoisie.

Using Marxs own method (dialectical materialism) and in contrast to other academic resources and study guides this guide traces the development of capitalism and the political implications.

The additional appendices give modern context and unpack popular ideas surrounding the causes of crisis such as “tendency of rate of profit to fall” “cyclical crisis” and “underconsumption”

I would recommend to anyone looking to understand the real dynamics of capitalist not for academic interest but for those genuinely interested in solving these contradictions and absurdities of capitalism. That is namely the struggle for socialism and a planned economy based not on profit but need.

[Nish G · Rating 5 out of 5]

If one wants a perspective on the world economy, specifically the political world economy, then Marx’s Capital is a must read. Despite the slanders pushed its way, in the 2008 after the economic crisis, Marx’s face was on the front of leading news outlets and sales for capital surged. This is because of an almost prophetic aspect that existed in the book at the time, the prediction of the 2008 crisis and how it occurred.

While bourgeois economists struggled to explain the crisis and find a “solution” to it, Marx’s capital provided them all. However, Capital is a large book, and can be intimidating.

This reading guide, by the international Marxist tendency, provides a short concise summary of the book without distortion. With its contemporary examples, capital is given a whole new life within the 21st century.

*Sewell and Booth have attached 3 essays at the end explaining capitalist crises, all of which are as important as the main book for the viewer interested in the contradictions of capitalism.*

[Thomas Soud]

A fantastic introduction to Marxist economics

Capital is well known as an intimidating book and many can find Marxist economics a difficult subject to breach. Sewell and Booth give an excellent introduction to the ideas of Marxist economics and is a must read for those engaging with the subject.

[Jack Tye Tye Wilson · Rating 5 out of 5]

A very helpful text to read alongside capital vol. 1. It could also be read as a standalone text. The straightforward, lucid style goes hand in hand with the references to contemporary events that are peppered throughout. The appendices are great too, especially the section on the tendency of the rate of profit to fall.

[Emma Wong · Rating 4 out of 5]

I have tried multiple times in my life to slog through Das Kapital (unsuccessfully, I would add). I have decided to give up and read books "about" it to try and understand what some folks seem to find so valuable in it. This is one of the books that I read, and I would give it a "5" for readability. It is very clear and tightly drafted. I would give it a "3" for objectivity. If you are looking for some sort of detached analysis of Marx's thought, this book is not for you. If, however, you are just trying to understand what the man (and Engels, who had to ultimately drafted vols. 2 and 3, and, after them Eduard Bernstein and Kautsky to finish elucidating Marx's notes) was trying to get across, this is a "5". If this is your goal, then it is probably best to read a book by a strident proponent / supporter of Marxist thought, because you can be somewhat assured the author is more likely to work harder to make the work accessible to the reader, which is especially important in this case.

[Arta · Rating 4 out of 5]

A really good, concise and easily-readable book which can function both as a guide to be read alongside Capital as well as an introduction to be read before delving into Marx's magnum opus, as it contains the book's key lessons in a very usable, condensed, yet faithful form, giving you a clear overall picture of Marx's project which would make tackling the book a less daunting task.
The opening article by Trotsky and the three appendix articles by Rob Sewell are also excellent at reiterating and applying some of the key lessons of capital.

[Twilight O. ☭ · Rating 3 out of 5]

Solid, but I wish this hadn't been billed as a reader's guide to Capital; I found it more rewarding when approached as an introduction. Essentially, Booth and Sewell follow the argumentative structure of Capital in broad strokes, but back up and break Marx's arguments down concept-by-concept. This is in contrast to, say, Joseph Choonara's guide which I also read recently, which follows Marx's argument in detail and offers commentary on Marx's actual text. If I read this book at a different time, I might've gotten more out of it; as a guide to Capital, however, it's just alright.

[jacob nicolet · Rating 5 out of 5]

I found a digital copy of this while reading through Capital volume 1, and I am glad that I did. While I am still reading through Capital this book was pivotal in aiding my understanding of Marx`s critique of Capitalism. The language is in laymen's terms with a helpful vocabulary section in the back of the book, and the author avoids most of the numbers and sometimes confusing equations that Marx used. The chapters are broken up in line with Capital volume 1 and each section broken down in an easy to understand format.

[Rob James · Rating 5 out of 5]

A magnificent book. Concise and clear explanation of the main concepts of Capital. It makes the big, intimidating book accessible and understandable. Essential to read either before or alongside Capital.
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[Natasha · Rating 5 out of 5]

A really clear explanation of Marxist economics, working through capital.

[G Ryan · Rating 5 out of 5]

Very useful tool to help understanding of Marxist economics

[Benjamin Roobol · Rating 5 out of 5]

Bästa introduktionen till marxistisk ekonomi. Man klarar sig långt på denna, även utan att läsa kapitalet på sidan av(även om det såklart hjälper).

[Sam Lovesey · Rating 5 out of 5]

Fantastic - wouldn't have gleaned even a tenth of the insights from Capital without this book

[Kai Lin · Rating 5 out of 5]

Unbelievably elucidating and a fantastic voice in-parallel with the material it explains. The worst thing there is in interpreting Marx is attempting to remain 'objective', a rational itself borne from the same roots as capitalism (further alienation of the worker, this time in temperament, but that's for another time). Sewell and Booth do not attempt this because they realize the worthlessness of such; instead they repeatedly lambaste bourgeoisie economists for being apologists to capitalism's atrocities and academic 'Marxists' for being useless standers by. What is the point of any of this if not to change the world? Such requires stance.