The classic explanation of Karl Marx's economic theories, by American socialist Ernest Untermann. The theory of historical materialism, the labor theory of value, the theory of surplus value, wage labor and profits, pre-capitalist societies, and the economic transition from feudalism to capitalism. Written for an audience of rank-and-file working people during the early union movement, "Marxist Economics" presents the most influential economic theories in history, in a non-technical way for non-economists.