Of this new time, this society of to-morrow, Marx gives us no glimpse. His function is not to prophesy, but to analyze. He is the natural historian of capital. He described the development of economic society and sought to ascertain its trend. In the first chapter of _Capital_ he says: "Let us imagine an association of free men, working with common means of production, and putting forth, consciously, their individual powers into one social labor power. The product of this association of laborers is a social product. A portion of this product serves in turn as a means of further production. It remains social property. The rest of this product is consumed by the members of the association as a means of living. It must consequently be distributed among them. The nature of this distribution will vary according to the particular nature of the organization of production and the corresponding grade of historical development of the producers." This is the only mention of the future made by Marx. It is a dim and uncertain ray of light cast upon a vast object. The formulæ of this epoch-making study may be summarized as follows: 1. Labor gives value to all economic goods. The laboring class is the producing class, but it is deprived of its just share of the products of its labor by the capitalistic class, which appropriates the "surplus value." 2. This is possible because of the capitalistic method of production, wherein private capital controls the processes of production and distribution. 3. This system of private capitalism is the result of a long and laborious process of evolution, hastened precipitately by the industrial revolution. 4. This industrial age is characterized (a) by anarchy in distribution, (b) private production, (c) the gradual disappearance of the middle class, (d) the development of a two-class system--capitalist and producer, (e) the rich growing richer and the poor growing poorer. 5. This will not always continue. The producers are becoming fewer each year. Presently they will become so powerful as to be unendurable. Then society--the people--will appropriate private capital and all production and distribution will be socialized. It is necessary to keep in mind the leading events in the life of this remarkable man in order to understand the genesis of his theories. Marx was born in Treves in 1818, of Jewish parentage. His mother was of Dutch descent, his father was German. When the lad was six years of age his parents embraced the Christian faith. His father was a lawyer, but his ancestors for over two hundred years had been rabbis. The home was one of culture, where English and French as well as German literature and art were discussed by a circle of learned and congenial friends. Marx studied at the universities of Bonn and Berlin. He took his doctorate in the law to please his father, but followed philosophy by natural bent, intending to become a university professor.