Marginal productivity theory is a better analysis. I don't approve of the ideological way economists present it though.

There is a need for a labor theory to recognize flaws in capitalism, but the labor theory that is needed is one of property (LTP) not of value after all capitalism is a property system. LTV is insufficiently decisive in its critique. At best, it says that workers are underpaid. LTP, on the other hand, demonstrates that workers legally own 0% of what they produce