Phoenix 24
The billionaire predicts that artificial intelligence and robotics will create unprecedented abundance, although economists warn that technology alone cannot eliminate scarcity or inequality.
Austin, Texas, August 14, 2026.— Elon Musk has predicted that money could lose much of its importance by 2036 if artificial intelligence and robots become capable of producing more goods and services than humanity can consume.
During an interview with The Economist editor-in-chief Zanny Minton Beddoes, Musk argued that currency exists primarily to distribute scarce resources and compensate human labor. In an economy dominated by automated production, he believes both functions could become progressively less necessary.
His scenario assumes that intelligent machines will manufacture products, construct housing, grow food and deliver services at extremely low cost. If production expands faster than demand, Musk expects prices to fall and deflation—not inflation—to become the central economic concern.
The entrepreneur has also suggested that traditional employment could become optional. People might continue working because they enjoy a profession or seek personal purpose, rather than because they depend on a salary for survival.
For workers displaced during the transition, Musk proposes a “universal high income,” potentially financed through direct government payments. He contends that issuing money would not necessarily generate inflation if automated production increased the supply of goods at an even faster rate.
Economists remain skeptical. Nobel laureate Daron Acemoglu challenged Musk to demonstrate confidence in his prediction by committing to donate his fortune before 2036. Musk responded that he intended to do something similar but offered no details or formal pledge.
Technology investor Vinod Khosla broadly agreed that AI could create enormous productive capacity but introduced a critical condition: abundance will benefit society only if political institutions permit its distribution. Otherwise, automation could increase wealth while concentrating ownership and power.
Musk’s forecast also leaves several forms of scarcity unresolved. Land in desirable locations, energy, minerals, political influence and access to unique experiences would remain limited even if robots dramatically reduced manufacturing costs.
For households, the prediction should not be interpreted as financial advice or a reason to abandon retirement planning. The disappearance of money remains a speculative hypothesis dependent on technological breakthroughs, public policy and decisions about who owns the machines producing the promised abundance.
Not everything that shines is guaranteed.