Elon Musk Predicts Money Will Become Irrelevant by 2036
Elon Musk Predicts Money Will Become Irrelevant by 2036
Elon Musk, the world’s richest man, has made a bold prediction: by 2036, money will no longer matter. In a recent interview with The Economist, Musk argued that artificial intelligence and humanoid robots will reshape the global economy, creating such abundance that traditional currency and paid labour become obsolete.
“If robots and AI are providing more goods and services than any human could consume, what do you need money for in that case?” Musk asked.
According to Musk, automation will generate extreme material wealth—food, housing, transport, and entertainment produced in quantities far beyond human demand. He suggested that governments may replace wages with “universal high income,” issuing direct financial support as work becomes optional. In this scenario, surging output would drive deflation rather than inflation, overturning conventional economic rules.
Economists caution that the path to such abundance is fraught with risks mass unemployment as jobs vanish before new systems of support emerge. They believe wealth will concentrate in the hands of a few if control of AI infrastructure remains in the hands of a few corporations or governments.
Economists warned of political instability as societies struggle to adapt to a post-labour economy. They added that resource control over land, energy, and data, may remain scarce even in a world of machine-driven abundance.
While Musk envisions a future where technology liberates humanity from scarcity, critics warn that without careful governance, the benefits could be unevenly distributed, deepening inequality rather than erasing it.
