Information technology continues to transition our economy into a more jobless, machine automated one. The need for a new form of capitalism and social order is required. Many thinkers and politicians who still don’t understand the effects of I.T. in the economy blame capitalism, immigration and the elites for unemployment and wage stagnation. They fail to notice it is technology who has snatched away the bargaining power of labor wages and not the “elites” or immigrants. Unfortunately, the current economic system is still not compatible with our new technological reality. Something like a universal basic income, non transactional taxation methods, and regulation of non market sectors will have to be part of a new socio-economic system. Much thought needs to be dedicated to solve this important human challenge if we want to avoid social unrest and economic collapse during this imminent transition.