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By Bruno COLMANT, Ph.D., Member of the Royal Academy of Belgium
Elon Musk has recently put forward one of the most striking ideas of the technological age: if artificial intelligence and robotics eventually become capable of producing most of the goods and services human beings need, money itself could gradually lose much of its purpose.
The proposition may sound utopian, yet its logic deserves serious consideration. Currency exists because scarcity exists. It measures access to limited resources, remunerates labor, stores value, and organizes exchange. The question is therefore simple: what happens to money if productive capacity becomes so abundant that many forms of scarcity recede?
Imagine...
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