There are some key technical linchpins that make that universe possible, and commensurately unlikely for us in yours and my lifetimes.
1. Near-free, externality-free, near-Kardashev Type II-scale energy ("The Grid" in his universe). 2. Strong AI, replete with emotions and benevolent AI sapients (even though they eclipse human intelligence by far). 3. FTL, anti-gravity, matter manipulation (molecular level at inter-stellar distances) physics we simply can't even begin to prod at. 4. Nanotech.
But that is one heck of a nice universe to strive for and toss the pebbles of our lives into moving towards however infinitesimal, nicht wahr?
[1] http://www.vavatch.co.uk/books/banks/cultnote.htm [2] http://smile.amazon.com/s/ref=nb_sb_ss_c_0_11?url=search-ali...
Basically it depicted world(s) of plenty, tho' yes it did have wars and trade etc, which is what made Deep Space 9 and the Ferengi so interesting :)