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As others have said, there will always be work to do! As long as humans have any problems whatsoever, there will be work.
How the heck does AGI reduce the carrying capacity of society? You'll have to explain this one to me.
Well, I'm hypothesizing that potentially, all (or almost all) of the solutions to all of the problems humans have may be covered by AI. If the AI is owned by a very limited number of people, then those people would be the ones who are the gatekeepers, and the ones that get most of the benefit of AI. Everyone will be paying these limited numbers of people for basically everything, and no one else would be able to make a living.
This is almost like imagining Karl Marx's worse nightmare regarding the proletariat owning all means of production, ratcheted up to unbelievable proportions. I'm no communist, nor socialist, so like I said, I never thought I'd say this. But this is a fear of mine, that AI puts everyone out of work, meaning that no one can support themselves.
This doesn't really scare me. Elites generally enjoy the society they're in, enjoy feeling useful, and above others. I think the vast majority of people who could create an AGI would use it to solve most of their problems, get really rich, then use it to solve everyone else's problems with a fraction of their incredible wealth.
Going into the future things could get very nasty indeed, but at that point all problems relevant to humans right now will be solved. It'll be an issue for the next stage of intelligence in our species' life, hopefully, and I'd imagine we'll be better suited to solve it then.
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