Map of Naples Tourist on Marginal-productivity theory of income distribution. The neoclassical marginal-productivity theory of income distribution, which was developed in the early 20th century, and which has become the dominant theory accepted by economists, stands in stark contrast to the Marxist theory. In this theory, capital and labor are seen as equal factors of production, each contributing to production, with each receiving their just reward. In particular, these two factors are not seen as representing the two great classes in capitalism, i.e., capital and labor are simply technical factors of production, and the sense of class, which is so important for Marx, is completely missing in this conception. The focus in neoclassical economics is always on the individual, who as the owner of a factor of production enters into the production process as an isolated unit, not representing a class in any way. Map of Naples Tourist 2016.
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