Elon told the economist in his interview last week that money won’t matter in 10 years. That is not financial advice. More people now “know” that than this list.
AI and robots will break economics by creating an era of "incredible abundance". He argued that if we can produce more necessities (goods and services) than we could consume, then the practical need for a medium of exchange simply disappears.
Not a great argument, since developed countries already have an abundance of say food and entertainment, yet the marginal price hasn't gone to $0 (except maybe iPhone games?).
We don't have a good way to value our time, or our status, or many other economic intangibles. Instead we tend to hyperfocus on money, which isn't necessarily worthwhile.
We will fight for those things and money is just one way to measure that.
We don't have a good way to value our time, or our status, or many other economic intangibles. Instead we tend to hyperfocus on money, which isn't necessarily worthwhile.
We will fight for those things and money is just one way to measure that.