None of the automation that we're seeing is making it possible for one person to make everything he needs. Automation is increasing the returns to capital and making it possible for corporations to produce things with fewer employees—none of that implies that you'll suddenly be able to make things yourself.

If anything, increasing automation increases the returns to scale. You might conceivably build your own torch. But you're certainly not going to purchase a million dollar torch-making machine.

Automation poses a threat to the traditional economic model, but on the supply side not the demand side—you'll still be buying as much as before, you just probably won't have a job.