no you understand it, that call "Collapse". This is post-collapse possibility, assuming the rich don't exterminate the poor, the poor out of desperation would likely form an economy of their own, likely their ideology will have diverged to extremism like yours, highly libertarian, but probably also high anti-technological, they would like run off to the farm land and create an agrarian amish like society where everything is made by hand. Post-collapse harm will have already be done, more harm won't be possible, the poor that survive the famines, revolts and exodus from the cities to go back and make essentials (food) on their own will become completely independent of the rich, who if we have become technologically advance enough will have an economy all there own too, made of of completely automated labor and robotic servants, and no work what so ever, just living off their investment, stock dividends and ownership of that automated labor. What else will they do, again with the anti-Luddite argument! Here tell me what else they would do and I will tell you it could be completely automated (and made to superior quality) and thus they could not be hired to do it. There would be nothing else for the poor to do except for each other and that would have to compete against any automated service they could still afford. If they can no longer afford the hydroponic automated farm food, they will have to make the food themselves, subsistence wise, the standard of living for them would become like zambia, in which barter is often of more value then the present currency, and people dedicate most of their time to making for themselves (so they don't starve) rather than for an economy. I explained repeatedly now step by step. Productivity is slowing, human population growth is slowing, demand growth is slow, but things are still getting more automated, so productive capacity can increase but without the demand it either fire people, pay them less or produce more expensive products that must compete against the guy that has automated his factory more and can produce cheaper, market economic dictate the later will win the biggest share of the market, so everyone keeps automating and firing and paying less to remain competitive. With less money people buy less stuff, the market growth slows and stagnates as automation makes things cheaper but people have less money to buy equalizes each other (ala Japan), to compete in the ever tighter market producer must automated more a vicious feed-back loop begins. This economy is highly unstable, anything and set it into recession or depression and eventual collapse. Much of the history of civilization, private property did not exist, except for feudal lords and the peasants were their property! Free-market often did not exist either, and technically a truely free market as never existed, nor ever will. In short many of these concepts are not the basis of prosperity and civilization. Which has nothing to do with this thread! What use will human skills have when the day comes that machines can do everything? Private or public schools will be completely useless. The price of labor is dropping because machines can do more and more of it for cheaper.