[PapaBear3625]

What we ‘re talking about here is an “economy of abundance.” Resources, or at least some or many of them, are NOT scarce. This has already happened with information. The interwebs have made acquisition of information that previously had a very high price essentially free.

By the standards of a 10th Century peasant, we are in an "economy of abundance".

If you accept a standard of living of a 10th Century peasant, living in a hut in the woods, then even working a minimum wage job would allow you to retire in just a few years of work, and have your investments supply you with enough wheat to survive.

What people who talk about "economy of abundance" fail to realize, is that human desires are limitless. Once somebody has a smartphone, everybody wants one. Likewise large-screen HDTV, game console, excellent food, etc.

[DannyTN]

It will be an economy of abundance, but....

1. How do people obtain a living in a world with a severe shortage of jobs?
2. Will most of us be dependent on government handouts?
3. Will robot owners have to be taxed at levels currently thought excessive to provide for the masses?
4. How will international trade be affected when countries have unequal levels of automation?
5. Do the less automated countries allow the more automated countries to put their people out of work, and indebt the country?