"Britain and the World in 2050", a report published by the Adam Smith Institute, predicts that teenagers will be millionaires in the future and will afford the same living standards that wealthy people do today.
Read our exciting new paper "The UK and the world in 2050" here: https://t.co/YmKf1xubrv
— Adam Smith Institute (@ASI) February 15, 2016
Despite the growing gap between the rich and poor, Adam Smith Institute president Madsen Pirie predicts economic growth of two percent a year will leave the younger generation richer.
Machines will take over the production of food and clothes and will run households, suggest Pirie.
Kitchen goalshttps://t.co/Ra78980e5X
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"This will leave their human owners and users more time for the activities they prefer, which will undoubtedly include education and participation in community and public affairs."
Refuting claims that machines will take over people's jobs, Pirie says that it's unlikely to happen.
"Advances in technology, including labor-saving ones, end up creating more jobs than they save… New jobs will be created, supported by the wealth of a richer society."
They might be richer — but tomorrow's teenagers will never stop working.
"Retirement as a concept will disappear, and people will look back in astonishment that people once thought of a working life of four decades followed by several decades of doing nothing," writes Pirie.
In less than four decades, Pirie thinks it will be "routine for teenagers to undergo treatment to improve their appearance."
