Hilferding (1877–1941) blended Marxist economics and Social Democratic politics in a career cut tragically short by the rise of fascism in Germany. He studied medicine at the University of Vienna, but soon showed more interest in organizing the student socialist society. After graduating in 1901, he helped Max Adler to found the Marx-Studien (1904–23), a series which was to become the theoretical flagship of "Austro-Marxism". The first volume contained a vigorous defence of the labour theory of value by Hilferding himself against Böhm-Bawerk's marginalist critique, Zum Abschluss des Marxschen Systems (1896). It earned him his intellectual spurs in the German-speaking socialist movement.