The head of Tesla and SpaceX envisions an economy of "nearly infinite abundance," where AI and humanoid robots will produce more goods and services than humans can consume
One of his most impressive predictions for the future of the global economy was made by Elon Musk in an extensive interview with The Economist, published on July 23, 2026.
Speaking to the magazine's editor-in-chief, Zanny Minton Beddoes, Musk argued that within the next decade, Artificial Intelligence and humanoid robots could so radically change production that money itself could lose much of its current importance.
His phrase was characteristic:
"Money won't matter in 2036."
This was not, however, a prediction that dollars, euros, or other currencies would suddenly disappear.
Musk described a very different economic model.
"Why do you need money when you have everything?"
During the interview, Musk explained that people use money primarily to acquire goods and services: food, housing, transportation, entertainment, and everything they need in their daily lives.
The question he posed was simple but extremely ambitious:
What will happen if Artificial Intelligence and millions of robots can produce so many goods and services that the supply is greater than what humans can consume?
In such a scenario, according to Musk, the economy could become something like "almost infinite economy".
Artificial intelligence would provide the intelligence and robots would act as its “hands” in the real world.
So AI would no longer be limited to computers and digital tasks. It could build houses, produce products, transport goods, provide services, and perform physical tasks.
Artificial Intelligence is getting "hands"
This is one of the key points of Musk's thinking.
Today AI operates mainly within the digital world.
Writes texts, analyzes data, creates images, programs and performs other tasks via computers.
But Musk believes that the real economic revolution will occur when this digital intelligence is connected on a large scale to humanoid robots.
Then, as he argued in the interview, Artificial Intelligence will be able to move from information processing to physical production.
And this, in his view, could change the entire concept of economics.
Will work become optional?
This specific prediction is linked to another position that Elon Musk has reiterated in recent years: that in the future, human labor could become largely optional.
If robots can produce food, construct buildings, operate factories, transport products, and provide services, then a large portion of today's jobs may no longer require human labor.
But this opens up a much bigger question.
If people don't have to work to produce the goods that society needs, then how will those goods be distributed?
Who will have control over robots and AI systems?
And who will decide who has access to this abundance?
These are questions that technology alone cannot answer.
The journalist questioned him.
Zanny Minton Beddoes did not leave the prediction without a counterargument.
He pointed out to him that investors buy shares of his companies because they expect financial returns.
Musk's response was exactly the prediction that went around the world:
"Money won't matter in 2036."
The journalist also asked him who would produce and sell the robots during the transition period.
Musk acknowledged that until we reach the hypothetical level of abundance he describes, money will of course continue to be necessary.
So even he himself does not argue that the current economic system will disappear overnight.
Economists keep their distance
The prediction has already sparked heated debate.
Economists point out that even in a world with massive automation, there will still be limited resources.
Land, for example, is not unlimited.
Neither are raw materials, energy, valuable natural resources, or housing in specific areas.
Even if robots can build a house much more cheaply, land in downtown New York, London or Athens is still limited.
And where there is scarcity, there is usually a need for some distribution mechanism.
Today this mechanism is largely money and prices.
This is why many economists consider it extremely difficult to completely eliminate the role of money, even in a much more automated economy.
From "basic income" to "universal high income"
Musk has previously spoken about a model he calls Universal High Income, that is, a universal high income.
The logic is that if productivity increases dramatically due to AI and robots, then society will theoretically be able to provide everyone with a much higher level of goods and services.
This is different from the classic Universal Basic Income, which has been discussed for years in many countries.
Musk essentially imagines a world in which productivity has increased so much that abundance, not scarcity, is the dominant economic characteristic.
The excitement and the great danger
The optimistic scenario is exciting.
A society in which no one lacks food, housing, transportation, or basic services would be one of the greatest changes in human history.
But there is also the opposite possibility.
If AI and robots are concentrated in the hands of a very small number of companies or states, automation could instead of leading to greater equality lead to even greater concentration of economic and political power.
The crucial question therefore is not only:
"How much can robots produce?"
But:
"Who will own the robots?"
And even more:
"Who will control the Artificial Intelligence that guides them?"
Prediction or reality?
Elon Musk is known for his particularly bold predictions.
Some have been verified in terms of general direction, while others have proven much more optimistic in terms of timing.
That's why the statement that "money won't matter in 2036" should be treated for what it really is:
a personal prediction of where the explosive growth of Artificial Intelligence and robotics may lead — not as a certainty that the global financial system will have abolished money in ten years.
However, the essence of the discussion is much greater than a catchy phrase.
Artificial Intelligence and robotics are already changing work, production and the economy.
And if the speed of technological development continues, the question that will concern us in the coming years may not only be which jobs AI will replace.
It could be something much deeper:
What does economy, work, and human well-being mean in a world where machines can produce almost everything?
The interview
The discussion took place with Zanny Minton Beddoes, editor-in-chief of The Economist, and published on July 23, 2026. In the same extensive interview, Musk spoke about the evolution of AI, humanoid robots, the future of work, China, politics, and the dangers of super-intelligent systems.
Πηγές
The Economist – Interview with Elon Musk, July 23, 2026.
Reuters – coverage of Musk's interview and statements regarding AI.
The Times – analysis of the prediction of whether money could indeed lose its importance within the next decade.
Video
The full-length interview with Elon Musk – The Economist
In the full interview, the discussion about the future of work and the economy begins at about the point where Musk develops his vision for AI and humanoid robots and argues that work could become optional.
