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joeleao07332d ago
Imagine a technologically advanced society in which AI and robotics take over a large share of production, from goods to services. As automation becomes more efficient and widespread, the marginal cost of producing many goods could approach zero. At the same time, human labor would become increasingly irrelevant in large parts of the economy. In such a world, traditional price mechanisms could weaken significantly. If goods are abundant and production costs are minimal, market prices may no longer function as they do today. Money itself might lose part of its meaning, at least for everyday necessities. I foresee a scenario in which universal basic income is implemented globally, with governments taking on a stronger role in resource distribution to maintain stability and prevent social unrest. However, truly scarce assets such as prime real estate, unique works of art and BITCOIN would likely become extremely expensive and remain concentrated in the hands of elites. In other words, society could move toward a system that resembles a form of post-scarcity communism.
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