Chapter 1 is the most important chapter inCapital, as well as the most difficult and the most controversial. An influential interpretation of Chapter 1 in recent decades has been the so-called “value-form interpretation” of Marx’s theory in general and Chapter 1 in particular.  The most important proponent of the value-form interpretation today, both in Germany and in the English-speaking world, is Michael Heinrich, and Heinrich’s work has emphasized the first chapter. Heinrich’s latest book in English is a detailed commentary of the first seven chapters of Volume 1 ofCapital. The...