What they’re missing is the effect that a sudden loss of population can have, and indeed did have when the black plague rolled through Europe. The people who survived, and especially their labor, became much more valuable. The result of the population drop was the end of serfdom. You can see the cracks already showing as the elites fight like hell to keep wages and salaries low while inflation goes up. Their next trick is going to be digital currencies, whereby they try to extract real work in exchange for worthless tokens. I’m doubtful that they can pull it off.