This is kind of a toothless meme. Aren’t you just saying capitalists embrace technology? That’s a positive thing.
The Marxist criticism here is in how capital embraces new technology to gain an edge, but increasing investment shifts the organic composition of commodities into more fixed capital; in turn, this means the labor content of each commodity is lower and there will be less profit to be made once competition gets rid of that initial edge. That means the rate of profit has a tendency to fall over time, not increase.
No, it’s pretty clearly saying that capitalists steal the rewards of technology for themselves.
Ah, I guess so, it means that the surplus they can make from technology just becomes more money for the individual capitalist instead of something that could be socially beneficial? I guess that’s not a bad point but it could be taken further.
