Advances in technology will lead to greater wealth (as it has for hundreds of years), but how that wealth gets distributed is something gov’ts always meddle in, and so the adjustments described in the article will not be allowed to occur on their own.
Political power and special interests always get in the way.
If the commies had taken over during the nineteenth century, forget about internal combustion engines and their descendants such as automobiles and aircraft, or spacecraft or computers. The “present (would have been) dominat(ing) the past” too much for any concept of the future to ever have coalesced. Technology is going backwards already—no more SSTs for example.