The other question you need to ask in order to understand this future scenerio:. Shipping costs will significantly decrease, what will consumers and shareholders spend the extra money on? Who knows what they will spend the extra money on, could be healthcare, boats, TVs, whatever. But new jobs will be created in these expanded industries. It really, really bothers me the constant "x technology will drive x people out…
American Population in 1850: 23 million.
American Population today: 319 million.
American Farmers in 1850: 14.72 million.
American Farmers today: 6.38 million.
And this is with several major wars in between.Basically we've gotten just better than twice as efficient in farming labor in 160 years (this is measured in man-hours worked). The value of that labor is what has changed. Farming itself is more efficient and we can feed 10 times as many people via refrigeration and shipping.