Exploring the Duality of Value in Marx's 'Capital'

Over 150 years ago, Marx published the first volume of Capital, a systematic and voluminous account of capitalism, from the economic bedrock all the way up to the social and political consequences. The book itself would stand as one of the most influential and decisive texts of all time, proving to be a wildly fruitful foundation for further research into everything it touched, and also becoming a cornerstone text for various political movements that would try and develop the critical analysis into a workable theory of action and social transformation.

Even after its 1867 publication, the text remained a fluid, dynamic object, with a 2nd edition being put out in Marx’s own lifetime and a 3rd and 4th edition being published posthumously under the stewardship of Friedrich Engels. These later editions would be the foundations for the first two translations of the text into English, first by Edward Aveling and Sam Moore in 1887, and then by Ben Fowkes in 1976. Now in 2024, we can add a third version of the text in English.

Translated by Paul Reitter and edited by both Paul Reitter and Paul North, Marx has been given a fresh voice with a new edition of the text that includes a foreword by Wendy Brown and an afterword by William Clare Roberts. The introduction by Paul North helps situate the text in Marx’s larger output, showing how it was the culmination of an early political radicalization that took time to develop into a more systematic critique. Paul Reitter’s preface explains some of the difficulties of translating such a large and complex text, and will help readers appreciate the care Marx chose his words with. Substantial editorial endnotes will help contextualize obscure phrases and terms, helping readers keep up with the massive scope of Marx’s vision as he pulls information, inspiration and ideas from economics, philosophy, literature and history into a cohesive yet dynamic vision of what the ceaseless pursuit of value was doing to our world, and what might be done about it.

For this interview, there are two parts. For the first hour, Paul Reitter and Paul North sat together and discussed the main ideas of the text, the various ways it tries to develop its critical perspective and its continued importance. For the second hour, Paul Reitter stayed to discuss some passages in detail, explaining the various choices made and roads not traveled, and how he tried to bring various aspects of Marx’s voice into English.

Translation is at least as much an art as a science, one that demands hermeneutic sensitivity as much as a knowledge of which words correspond to which. Reitter is a humble practitioner of what is often thankless work and makes no claim to being the final word on how best to translate Marx, but his contribution will absolutely raise the bar and give readers who’ve never read Marx an excellent place to start, and will give those familiar with the text a chance to see it in new light. To borrow a phrase from Marx himself, this new translation is as royal a road to science as we could ask for.

Paul Reitter is a professor of Germanic languages at Ohio State University.

Paul North is the Maurice Natanson professor of Germanic languages and literature at Yale University.

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