And what if Musk is right and in 10 years money will no longer have meaning

Episode 396 of Calcalist's 'Money Engines' podcast examines Elon Musk's claim that within a decade, money will lose its meaning due to unlimited abundance from artificial intelligence. Host Ori Greenfeld analyzes the idea, compares it to the industrial revolution, and warns of possible inflation. Later: analysis of the August consumer price index which rose by 0.7% (below forecasts), a slowdown in rent, and a surprise interest rate hike by the US Fed led by Chairman Kevin Warsh.

Episode 396 of Calcalist's 'Money Engines' podcast, hosted by economist and chief strategist at Agam Leaders Ori Greenfeld, focuses on a far-reaching claim by Elon Musk: within ten years, he says, money will have no meaning. Musk argues that artificial intelligence will produce such an enormous abundance of goods and services that no one will be able to consume it all, and the US Treasury will simply hand out checks to everyone, making work a choice. Greenfeld examines the idea in depth, comparing it to the industrial revolution which was followed by a long period of disinflation, but warns that distributing money to citizens could actually generate inflation, contrary to Musk's promise. Later, the episode moves to an analysis of the August consumer price index in Israel, which rose by 0.7% (below forecasts of 0.8%), and annual inflation remained at 1.6%. There was a slowdown in rent (new contracts rose by 4.4% compared to 4.7% in the previous month), and a broad 0.5% decline in food prices. In the US, the Fed under Chairman Kevin Warsh raised interest rates for the first time in three years, in a unanimous vote, contrary to the expectations of Trump who appointed him.