Gianluca,

(sorry if this is a repeat, my last reply appears to be lost in cyberspace). Great comments. Thank you. Of course, it is possible you are right. It is possible that this time really is different. It is possible. But not likely. Perhaps the sci-fi movies are right that AI/robots will do just about everything for us. But isn't it human needs that are getting met? When the paradigm shifts to robots selling to robots, maybe humans become an afterthought. But until then, bots can produce more and more of our work and dramatically reduce costs on a wide range of goods and services. And, as has happened so many times in the past, new "needs" are created and met. Have you considered a world where almost everyone is an entrepreneur because there is so much opportunity? Have you considered a world where someone makes a nice living being a maven whose thoughts and opinions are highly valuable to other humans for one reason or another? Have you considered a world where leisure time and human interaction dominate our lives more than work? What might happen if we all only needed to work one day per week? Maybe everyone will have a personal bot that acts as an agent on his or her behalf. The future is yet unwritten. But one thing we know with certainty, as productivity increases, it frees up dollars to do other things. What things? That is the question.