When we get to reliable 20 Mbps or so rates there’s no need for DVD movie rental, cable TV and dedicated wire phone service. Instead of cable having numerous “channels” that has on whatever is scheduled, you simply watch whatever you want from a giant online library of movies/programming when you want it. Everything is on demand real time.
While that will be nice, I don’t see it as a major economic issue in terms of the economy.
I don’t foresee the kind of hardware capable of dishing out that much bandwidth to everybody possible for quite a few years. Right now most servers can barely keep my 6Mbps cable fed. This 100mbit stuff in Europe and Korea is completely useless until hard drive and disc access speed catches up. Not everyone has a RAID array.
The US is already ahead in this area. Its called IPTV (Internet Protocol Television). Its slowly coming out by the Bells.