Editing Openai/690e0c6e-a0a0-8008-a8d6-170f8b930892 (section)

==== These works defend or use marginal-productivity theory and competitive markets as an alternative to Marx’s framework. ====
# “Marginal-productivity theory and its critics” (Britannica) — provides an overview of how marginal productivity theory emerged to counter older value theories (including Marx’s). Encyclopedia Britannica<ref>{{cite web|title=Encyclopedia Britannica|url=https://www.britannica.com/money/wage/Marginal-productivity-theory-and-its-critics|publisher=Encyclopedia Britannica|access-date=2025-11-12}}</ref> - Key point: Under competitive conditions, workers are paid the marginal product of labour, so there is no systematic under-payment or “surplus extraction” in Marx’s sense. - Useful because it gives background on the mainstream view of factor payments.
# “What is Analytical Marxism? …” / “Analytical Foundations of Marxian Economic Theory” etc. — While this is in the analytical Marxist camp, it also highlights critiques of Marx’s value theory and shows the mainstream response. Social Science Computing Cooperative<ref>{{cite web|title=Social Science Computing Cooperative|url=https://www.sscc.wisc.edu/soc/faculty/pages/wright/Published%20writing/IE-C8.pdf|publisher=Social Science Computing Cooperative|access-date=2025-11-12}}</ref> - Criticism: The labour-theory of value has internal tensions, problems of transformation (values → prices) and is seen by many economists as superseded or at least not necessary. Merion West<ref>{{cite web|title=Merion West|url=https://merionwest.com/2022/01/01/the-failed-attempt-to-rescue-marxs-labor-theory-of-value/|publisher=Merion West|date=2022-01-01|access-date=2025-11-12}}</ref> - Good for seeing where mainstream economics says: even if capitalism has problems, the precise mechanism of Marx (surplus value via LTV) is flawed.
# “Validity of Marxist critique” (Economics StackExchange) — A more accessible discussion of how economics forums view Marxian exploitation under competitive assumptions. Economics Stack Exchange<ref>{{cite web|title=Economics Stack Exchange|url=https://economics.stackexchange.com/questions/50169/validity-of-marxist-critique|publisher=Economics Stack Exchange|access-date=2025-11-12}}</ref> - Useful for pedagogy: showing typical mainstream objections (“if workers are paid their product, where does surplus go?”). - The critique points out: if wages = value created, then no room for surplus appropriation; but if wages < value, the capitalist cannot pay other costs/invest etc.

Summary takeaway for this camp: If you assume frictionless competition, fully flexible labour markets, perfect contracts, no power asymmetries, then the Marxian mechanism of surplus‐value extraction is either redundant or fails to get traction. In these models, formal equality of contract corresponds reasonably with substantive equality of factor payment.