Just a pet peeve of mine: making labour (and life in general) cheaper, is not only a matter of technology progress (in the sense of human knowledge getting richer and richer) but also of what energy sources nature provides.
As an example, the steam engine was a huge breakthrough and James Watt did change the fate of humanity, but it would not have been possible without coal veins. Our economy is based on oil, but how long will it last?
We can invent more and more kinds of machines, but we'll need new sources of exploitable energy. We may learn to recognize currently-unknown kinds of sources, but we'll never be able to create them.