Elon Musk has made one of the boldest economic predictions of the artificial-intelligence age: by 2036, money may no longer matter. The reasoning is clean. Money exists because things are scarce. If AI and robots produce more food, housing, transport and healthcare than human beings can consume, scarcity fades, and with it, the point of money.
It is a compelling technological argument built on a single unexamined assumption: that money is fundamentally a rationing device for consumer goods.
Read Full Article »
