Marx’s Capital Was a Work in Progress
The notion that Karl Marx's works have been studied inside and out is fundamentally incorrect. The huge body of his manuscripts has still not been completely processed, and his seminal work, Capital, was only recently published with the final edits of the author. The 19th April Conference at the Higher School of Economics included the section ‘Methodology of Economic Science’ which was devoted to the work of the German philosopher and political scientist. Independent researcher and professor from Berlin, Thomas Kuczynski, gave a presentation at the conference which pointed out numerous aspects of Marx’s continuous rethinking of allegedly fixed truths.
Professor Kuczynski recently published the first volume of Marx's Capital in German. According to Professor Vladimir Avtonomov from HSE’s Faculty of Economics, this work is completely novel in that it is based on the first French edition published in the 19th century. He explains, ‘Thomas Kuczynski has included amendments which were personally made by Marx to the French edition of the first volume of Capital.’
Professor Thomas Kuczynski and Professor Vladimir Avtonomov
Professor Avtonomov introduced the presentation at the 19th April Conference and described the enormity of the task that Professor Kuczynski recently successfully completed. ‘Marx left behind a huge amount of written heritage and archivists and historians are still struggling to cope with the full volume of his manuscripts. However, these manuscripts are incredibly valuable because they give us an idea of Marx’s creative processes, of how his thoughts developed.’
A Series of Editions
The first edition of Capital (Volume I) (1867) was followed by a second, revised, German edition (1872-3) and a French edition (1872-5). The French edition was not a simple translation of the German but rather a strongly improved version thereof. Marx instructed potential translators to base their translations on a careful comparison of the two editions.
After the French edition, Marx planned to publish a further revised German edition in 1881. His death prevented him carrying out this plan, but it shows that he considered his opus magnum to be a work in progress. According to Professor Kuczynski, ‘it would be wrong to assume that Marx’s political activities prevented the completion of his scientific work. However, there is no doubt that he was constantly torn between current political tasks and long-term planned scientific projects. There were always two souls dwelling inside him.’
The French Edition
The French edition, which Marx translated together with Joseph Roy, contained certain significant improvements on the German one. However, Marx was unable to transfer the entire philosophic content of the original German edition into the French edition, as he had problems translating terminology that he had developed in his mother tongue into other languages. These difficulties endure today, as is becoming apparent in the constant debates on appropriate translations and representations in other languages.
Whatever the literary defects of the French edition may be, according to Professor Kuczynski, it possesses scientific value and should be consulted by readers. Today, nobody can judge the quality of Roy’s translation. Nevertheless, his translation was an alien text for Marx.
However, in the post-phase to the second edition, written in April 1875, his opinion of the French text had already changed a little. It showed him the weaknesses of his original German edition much more clearly than his own re-reading of the text would have done. Indeed, it was the French translation that prompted Marx’s profound editing for the later revisions which contained more than simply clarifications. He said, ‘having undertaken the work of revision, I was led to apply it to the second German edition to simplify some arguments and to add critical suggestions’.
Marx’s appreciation of the French edition meant that he had no objections to using it as a basis for an Italian translation. In November 1878, the Russian translator, Nikolai Danielson, asked whether he would be inclined to make some changes to the French and the second German edition. Marx answered that in the second Russian edition of Capital, ‘the second German edition should be carefully compared with the French one and only a few alterations are necessary.’
Marx did feel, however, that it would have been easier to do the translation by himself. Of his work with Roy, Marx said, ‘the French edition consumed so much of my time that I will never collaborate on a translation again’.
Collaboration with Engels
As we know, the second and third volumes of Capital were not produced by Marx, but Friedrich Engels, using Marx’s manuscripts.A criticism by Engels of the first German edition was that, ‘one is forever plunging straight from the illustration of one point into the exposition of another point’.
Marx, based on this feedback from Engels on the first German edition, decided to change the structure of the text. When writing the second German edition, he divided and subdivided the text into chapters and sub-chapters. The French edition was further sub-divided and contained 8 parts and 33 pages. Engels used the French sub-division for his English translation, however not for the German editions he produced. Consequently, we have today two different internationally featured issues of Capital (Vol. 1).
The debates about the relations of the editions written by Marx himself and those written by Engels represent two different opinions. The first view recognises a steady improvement and considers Engels’ fourth edition to be the true edition. The other opinion developed in the 1960s recognizes a ‘watering down’ of the true intention of the book.
An Unfinished Masterpiece?
In 1881, Marx was informed by his German editor that a third edition was necessary. By this stage, his wife had passed away and he himself had suffered bronchitis. However, he agreed to have it ready with only a minimum number of changes to the text. He also stipulated that only 1000 be printed, instead of 3000, as they had originally agreed. Marx had therefore already begun with the planned revision, however his bad health prevented him from completing this revision in its entirety.
Therefore, Capital does not exist in a version that corresponds to the author’s final planned corrections and revisions. Every speculation about its content will be misleading because, according to Professor Kuczynski, Marx always achieved very different results with his edits from those which were outlined in his preparatory works.
In Marx’s view, Capital was therefore an incomplete work, or, a work in progress.
See also:
Nobel Laureate Proposes Solution to Markov Equilibrium Problem
In dynamic games, a Markov equilibrium involves strategies that guide players' behaviour based on the current state of the game, rather than its entire history. This approach is effective when players have access to complete information. But when uncertainty arises in the game—for instance, when players are unsure of who they are dealing with—this approach can become problematic. Eric Maskin, Nobel Laureate in Economics and Professor at Harvard University, addressed this issue in a paper presented at the XXV Yasin (April) International Academic Conference on Economic and Social Development held at HSE University from April 15 to 18, 2025.
‘The World Is Becoming More Complex and Less Predictable’: What Scientists Say about the Future
The future is now more difficult for researchers to forecast, and events that are hard to predict are playing an increasingly significant role. But there is good news too: scientists are confident that humanity will adapt to any changes. This was the focus of discussion at the International Symposium ‘Foresight in a Rapidly Changing World,’ which took place as part of the 25th Yasin (April) International Academic Conference.
Fragmentation and Bloc Formation: How the Global Economy is Changing
Sergey Dubinin, former head of the Bank of Russia and Professor of Finance and Credit at the Faculty of Economics at Moscow State University, has delivered an honorary address at the XXV Yasin (April) International Academic Conference. He spoke about the transformation of the global monetary and financial system, as well as the Russian economy.
More Children, More Happiness: HSE Experts Study Impact of Number of Children on Russians' Assessment of Happiness
Russians with children feel happier than those without children. At the same time, the number of children influences the assessment of happiness: the more children Russians have, the happier they feel. These conclusions were outlined inthe report ‘More Children, More Happiness: The Impact of the Number of Children on Russians’ Assessment of Happiness,’ presented at the XXV Yasin (April) International Academic Conference on Economic and Social Development, held on April 15–18 at HSE University. The study was conducted by Elena Churilova, Senior Research Fellow, and Dmitry Jdanov, Chief Research Fellowat HSE International Laboratory for Population and Health.
HSE Expands Cooperation with Gulf Countries
HSE University and the Centre for International Policy Research (Qatar) have agreed to collaborate in the field of social sciences, with plans for joint research, academic exchanges, and regular expert engagement. The agreement was signed during the roundtable ‘State Capacity and State Resilience in the Global South,’ held as part of the 25th Yasin (April) International Academic Conference at HSE University.
‘We Grow Old before We Become Rich’: How BRICS Countries Can Achieve Economic Growth
Due to population aging, many countries aiming for economic prosperity have limited time left to undergo economic transformation, according to the honorary report Narratives Versus Reality on Employment and Demography: How Undermining Institutions Can Push Countries Out of the ‘Narrow Corridor’ by Santosh Mehrotra of the University of Bath. The report was presented at the XXV Yasin (April) International Academic Conference.
XXV Yasin (April) Academic Conference Kicks Off at HSE University
The anniversary 25th Yasin (April) International Academic Conference on Economic and Social Development will take place from April 15 to 18. This year, over a thousand applications were submitted to present at the conference, of which the Programme Committee selected 381 of the best research papers in their respective fields.
‘Teaching Is a Learning Experience for Me—Every Question Is an Opportunity to Update My Lecture Material’
Kemal Kivanc Akoz is an Assistant Professor of the Department of Theoretical Economics at the Faculty of Economic Sciences. He has been at HSE University for six years and his current activities include research into marriage market dynamics and information agreements among groups of agents. In this interview with the HSE News Service, Kemal talks about the subjects of his research, the teaching approach that led to him being named one of the university’s Best Teachers, his favourite places to get a coffee in Moscow, and more.
‘I Hope You Have Entered the Economic Profession Consciously’
On November 11, 2024, the HSE Faculty of Economic Sciences hosted a celebration for Economist Day. Many of the university's partners came to congratulate HSE on the occasion. The atrium on Pokrovsky Bulvar hosted booths from VkusVill, Ozon, HeadHunter, Wildberries, and other leading companies. Students and professors participated in quizzes, spun the wheel of fortune, painted, and crafted.
HSE University Announces Call for Proposals to Attend Anniversary Yasin Conference
HSE University invites submissions of proposals with academic reports for participation in the 25th Yasin (April) International Academic Conference (YIAC). The conference programme, centred on five research themes addressing issues of economic and social development, will retain its interdisciplinary focus and welcome participation from leading scientists in Russia and around the globe. The key events of the 25th Yasin Conference will be taking place in Moscow from April 15 to 18, 2025.