Abstract
A recurring lament in commemorations of classic works is that they are so well known that little remains to be said about them. This is certainly not true of Marx's Capital. Its difficult method of presentation, the numerous myths about it which have grown up over the years, and recent tendencies to mathematicize popular conceptions of Marxian economics in lieu of digging into Marx's own writings have together made this work almost as little understood today as it has ever been. Böhm-Bawerk's famous “refutation” of Marx's “labour theory of value” continues to be reproduced, along with the economic “breakdown” of capitalism theory, the “dialectical” forces at work, and all the old familiar cast of fictitious characters. If one accepts the cynical definition of a classic as a work that everyone talks about and no one reads, there is certainly no more classic work in economics than Capital. The hundredth anniversary of its publication seems an appropriate time to reexamine not only the book itself but also the beliefs about it which have acquired a life-almost an immortality-of their own.
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