Perhaps not quickly or efficiently enough, but even worse, it's not a given that there will always be enough valuable activities for everyone to perform and earn a wage.
This is particularly true when wealth is not evenly distributed. The needs that a small group of wealthy people have for human-created value is, well, small, and therefore wealth barely gets redistributed. Other factors compound this, like the fact that most of the proceeds from a market do not go to the (potentially many) people involved in producing the goods or services, but to those comparatively few with the capital to finance that activity; the chasm between the (so to speak) haves and the have nots grows bigger and bigger.
At that point, a significant segment of society simply can't earn a living, and society must adapt to become sustainable again.
It's not the kind of thing that happens overnight, but you can see how most forces are pushing in that direction, so without a fundamental change in the dynamics of production, market and compensation, it's not a question of if, but when.
Perhaps not quickly or efficiently enough, but even worse, it's not a given that there will always be enough valuable activities for everyone to perform and earn a wage.
This is particularly true when wealth is not evenly distributed. The needs that a small group of wealthy people have for human-created value is, well, small, and therefore wealth barely gets redistributed. Other factors compound this, like the fact that most of the proceeds from a market do not go to the (potentially many) people involved in producing the goods or services, but to those comparatively few with the capital to finance that activity; the chasm between the (so to speak) haves and the have nots grows bigger and bigger.
At that point, a significant segment of society simply can't earn a living, and society must adapt to become sustainable again.
It's not the kind of thing that happens overnight, but you can see how most forces are pushing in that direction, so without a fundamental change in the dynamics of production, market and compensation, it's not a question of if, but when.