If we have reached the point where 2) is true, then there is no more work to do and everything is done! :D
re. Cushman:
Or maybe some people can move to farms, supplying more farm labor, sending farm worker wages down, and lowering the price of food to close to nothing? Ohh wait... minimum wage laws stop that from happening.
Both of these assumptions are quite untenable given our understanding of human biology and technological progress.