The remarkable thing about Srnicek and Williams’ book, Inventing the Future, is that it brings together technology, labor and income into a concise political program for the Left. The defect of the book is that it attempts to do this in a superficial (merely political) way that neglects the inner relation between the three elements.
Technology, for instance, is not an isolated factor in political economy but influences both labor time and income distribution in the capitalist mode of production. The authors seem to vaguely understand this, but their grasp of the subject is limited.
In a passage I cited in my last post, Srnicek and Williams explain that automation of production reduces the demand for labor. They then explain a reduction of hours of labor reduces the supply of labor available for capitalist production. However, and oddly, at this point, Srnicek and Williams pull their punch: they never go on to explain the demand for the complete automation of production is, at the same time, a demand for the complete abolition of wage labor; nor do they explain that with the complete automation of production and the complete abolition of wage labor, all income — both wages and profits — must fall to zero.
This means the demand for complete automation of production called for in the book is identical with a demand for the complete abolition of wage labor. It also means that, in the long run, technical progress, wage labor and wages are not simply loosely related elements of a purely political program, but three different expressions of one and the same thing.