Autonomous systems are projected to generate an overwhelming volume of goods and services, eventually causing production expenses and retail prices to practically disappear. In response to potential job displacement caused by this technology, Elon Musk has advocated for a system of universal high income to support displaced workers. He previously suggested that continuous federal checks would not cause inflation because automated productivity would far outpace the expanding money supply.
Key points
Advancements in artificial intelligence and robotics are anticipated to eventually make t…: Advancements in artificial intelligence and robotics are anticipated to eventually make traditional human labor entirely optional.
Continuous federal payments could provide a universal high income to offset severe job lo…: Continuous federal payments could provide a universal high income to offset severe job losses caused by automation.
Massive surges in automated productivity are projected to prevent inflation despite the d…: Massive surges in automated productivity are projected to prevent inflation despite the distribution of government checks.
Sources checked by our analysis pipeline: 1
Elon Musk has once again predicted a future of abundance where money will become redundant. In a post on X (formerly Twitter), the tech billionaire wrote: “Saving money for the distant future is pointless” in the “super intelligent abundance” driven by AI. Elon Musk’s post responded to a user's lighthearted justification for questionable spending amid expectations of rapid future prosperity. “Justifying each of my questionable financial decisions with the fact that we’re headed towards a future of abundance,” X user @battleangelviv said adding “Don’t be like, totally reckless, but also most of it won’t matter in a few years anyway”.
Not a first
This is not the fist time that Elon Musk predicted a future without money. During an interview with Peter Diamandis earlier this year, an entrepreneur and executive chairman of the XPrize Foundation (via Fortune), Musk laid out a “moonshot” vision of a future where human labour is optional and currency no longer exists.
Elon Musk believes that AI robots will change global economics. “AI and robots are going to make so much stuff and provide so many…
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