[heretohelp]

>I'm really interested to see what happens after that though, when there is comparatively little wage arbitrage opportunities remaining.

Post-labor economies driven by efficiency improvements from technological advancement.

Most of the western world lives dissipatively save for a cohort of knowledge workers fighting for prestige and social proof. (You already see this in the startup industry with those who have enough money to retire on.)

Those that don't adapt to the non-necessity for everybody to be working will experience tumult.

[mtrimpe]

What do you mean by dissipatively?

My dictionary hasn't caught up with your vocabulary yet ;)

[heretohelp]

Imagine what most people would do if they no longer had to work to survive.

Sit around, watch TV, etc.

http://www.thefreedictionary.com/dissipative

Specifically: "To indulge in the intemperate pursuit of pleasure."

Contains a more...nihilistic edge than hedonism though.