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I'm willing to believe that perhaps robots will eventually be able to supply all our human needs at some point in the future. At that point the whole calculus will change (and not just for the old but for huge swaths of society).

I'm speaking about the world we currently live in though.

I agree with your first point. With enough automation and robotics, we should be able to provide for everyone's basic needs (not just the elderly) at little to no cost to the working population.

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