If a boss lets everyone work 20% less when a new tech is acquired, do the workers also earn 20% less? Thank you. I guess they could get a part time job if they needed one.
No, the point of the example was this: if a new machine enabled the same output with 20% less labor, the typical capitalist would fire 20% of workers, sell the same output as before the net machine at the same price yielding the same total revenue. But instead of paying the 20% fired workers' wages, he would now pocket that part of the total revenue for himself as expanded profits. The profits of the capitalist thus come NOT from the technology but rather from how the technology is used in the business. Now consider the alternative: no one is fired; instead the new machine enables all workers to do 20% less work (Fridays are now made par of the weekend) while getting the same pay. The capitalist gets the same revenue and the same profit as before the machine was installed. The winners in this alternative are the workers who all get a 20% reduction in labor. If worker coops replaced capitalist enterprises, the alternative would be far more likely how technology is used than the typical capitalist way.