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Homework answers / question archive / Do you think it's possible for the concept of money to eventually disappear in a mostly-automated, post-scarcity society or world?

Do you think it's possible for the concept of money to eventually disappear in a mostly-automated, post-scarcity society or world?

Economics

Do you think it's possible for the concept of money to eventually disappear in a mostly-automated, post-scarcity society or world?

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An automated world is a type of world in which production or any other process is carried out using machines. Minimal human labor in an automated world is utilized.

A post-scarcity world refers to a world with unlimited factors that are used in production. The unlimited factors of production increase the supply of goods and services which will exceed the demand for the same goods and services. Due to the increased supply, charging for goods and services is not necessary in a post-scarcity world. Automation is used in a post-scarcity world. Minimal human assistance is required in performing activities while control of processes by machines is fully utilized.

The concept of money will not eventually disappear in an automated or post-scarcity world. The money will not disappear but everyone will have enough ?money to use. No one will work in order to get money because everybody will be already having enough of it. Individuals will only work for enjoyment.