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Welcome to Post Scarcity Economy. Post scarcity or post-scarcity describes a hypothetical form of economy or society, often explored in science fiction, in which things such as goods, services and information are free, or practically free. This would be due to an abundance of fundamental resources (matter, energy and intelligence), in conjunction with sophisticated automated systems capable of converting raw materials into finished goods, allowing manufacturing to be as easy as duplicating software.
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However even a hypothetical political or economic system able to achieve this lifestyle for everyone would generally not be termed a “post-scarcity society” unless the production of goods was sufficiently automated that virtually no labor was required by anyone.
Market economies or planned economies may be unnecessary in a post-scarcity age, though gift or exchange economies may take their place once the scarcity driving earlier types of economy disappears.
Many science-fiction variants also imagine the very concept of ownership to weaken or disappear, as people lose attachment to all but sentimental-value items, knowing that they will always be able to receive or create replacements. Monetary systems in consequence also cease to be a factor.
Many stories depict changing to a post scarcity economy as a positive advancement, freeing humanity from both toil and greed. Others posit that handing production and most other services over to machines and computers will stunt the spirit of humanity, or even lead to a loss of control over humanity’s own fate.
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