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Post Scarcity Economy

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The idea of a post-scarcity world is an interesting one.
It even has a wiki page about it.

http://en.wikipedia.org/wiki/Post-scarcity_economy

It defines a post scarcity economy as follows:

Post-scarcity (also styled postscarcity) is a hypothetical form of economy or society in which goods, services and information are free,[1] or practically free. This would require an abundance of fundamental resources (matter, energy and intelligence), in conjunction with sophisticated automated systems capable of converting raw materials into finished goods. Now as I have said in other blog posts, we have not arrived at the post scarcity economy. There is still quite a lot of human labor that exists. However, many of themes present in the post scarcity economy are manifesting themselves in various ways.

On the one hand, a post scarcity economy represents utopia. A world in which we all have enough and everyone can live a good life. On the other hand, the transition to such a state could be devastat…