I haven't studied economics and my knowledge is very fragmented, but I figured I'd see what other people think about the following video, and a related thought experiment...
Technological advancement seems to rise exponentially and I'm confident we'll continually be seeing very drastic innovations throughout our lifetimes. Sustainable energy's a big one, I think.
My question involves the economics involved in resource abundance. Assuming we ever implement our technological potential to minimise (and perhaps eliminate) waste/pollution, shortages of food, shelter, water etc. then what do you suppose might happen to...
1) Population growth
3) Philanthropy/social mobility
4) The utility of a monetary system (not to say it will become useless, but that it might serve a lesser role in the function of this hypothetical economy given the lack of scarcity)
The premise ignores how we could possibly facilitate a transition to it, but that's why it's only hypothetical. Hope I can gather a few thoughts
But we haven't even met!