This is just describes another transitional point in human history. In any given year, we can produce the same output with less labor. As this effect compounds, take this pattern to its extreme -- producing all the output the world could ever need with virtually no human labor. In such a scenario, what is the meaning of a wage? What does it mean for a person to produce "value?" How would humanity, whose genome has been shaped under the chisel of scarcity, adapt to a system where such a thing did not exist?

In this thought experiment, I believe it becomes evident that the laws of economics, as we understand them, are NOT timeless. Modern economics has gone on a tangent, creating a system of analysis and theory that only works for this microcosm in our existence. It is only as our economy approaches the scenario described above that the true laws of human economics can become evident.