This book contains an abridgement of the first volume of Marx’s Capital prepared by Otto Rühle at Trotsky’s request shortly before his assassination in 1940.
Trotsky’s original introduction, analyzing the economic policies of the Roosevelt administration in the 1930s, is remarkable for its contemporary relevance. His introduction was later published separately under the title “Marxism in Our Time.”
Excerpts from Trotsky’s introduction:
“This book compactly sets forth the fundamentals of Marx’s economic teaching in Marx’s own words. After all, no one has yet been able to expound the labor theory of value better than Marx himself.” (p. 1)
“Marx foretold that out of the economic collapse in which the development of capitalism must inevitably culminate – and this collapse is before our very eyes – there can be no other way out except socialization of the means of production. The productive forces need a new organizer and a new master, and, since existence determines consciousness, Marx had no doubt that the working class, at the cost of errors and defeats, will come to understand the actual situation and, sooner or later, will draw the imperative practical conclusions.” (pp. 31-32)