Delete comment from: Captain Capitalism
I think you can extrapolate this with the value of time vs the cost of time graph. A person works a certain amount of time in order to meet their needs, and then spends the remaining time doing other activities. People balance their work time and time off so that the value of an additional hour off equals the cost of not working that additional hour.
As the time required to meet their needs reduces due to inexpensive goods, the time available to do other things increases, and as it increases each additional hour off is worth less and less.
So what do people with lots of time to spend do now? That is what the future looks like for everybody. Won't be too odd.
Where it gets wierd is when SERVICES are incredibly cheap due to automation. When they can create a robot that can replace the delight provided by the admiring eyes of a woman, THEN the world is going to get seriously odd.
Nov 7, 2013, 9:26:21 PM
Posted to Why Post-Scarcity Economics is Scary