PBESProceedings of Business and Economic Studies2209-26412209-265XBio-Byword Scientific Publishing Pty. Ltd.10.26689/pbes.v9i7.15676ArticleBeyond the Veil of Capital: Toward a “Post-Labor Economics” and a New Paradigm of Value Distribution in an Era of Full Automationhttps://artdesignp.com/journal/PBES/9/7/10.26689/pbes.v9i7.15676HuChanghao2026972026-07-27The convergence of Artificial General Intelligence (AGI) and advanced robotics portends the comprehensive displacement of human labor across all productive activities. This prospect represents not merely a technological watershed but a fundamental crisis for the paradigm of economics itself. The theoretical edifice built on labor value, price theory, distribution mechanisms, and growth models faces potential obsolescence. This article proposes and systematically elaborates a theoretical framework of “Post-Labor Economics,” investigating how economic systems might achieve closed-loop operation when humans exit as producers. Tracing the historical evolution of the labor theory of value and synthesizing the intellectual lineage of technological displacement, the paper innovatively conceptualizes robots as “human-like producers” and constructs a “dual-circuit” model comprising the “Capital Internal Circuit” and the “Human External Circuit.” This model reveals the structural contradiction between infinite supply capacity and the evaporation of effective demand. Building on this foundation, the article reexamines fundamental transformations in price formation mechanisms, factor distribution logic, and growth constraints. Finally, it proposes a “Digital Sovereignty” distribution system that transcends traditional welfarism and reconstructs the philosophical foundations of “value.” The research concludes that the terminal scenario of comprehensive labor displacement will mark the end of the “Labor Economics” era and inaugurate a new civilizational paradigm centered on property rights reconfiguration, energy constraints, and the meaning of human existence.

Brynjolfsson E, McAfee A, 2014, The Second Machine Age: Work, Growth, and Prosperity in a Time of Brilliant Technologies. W. W. Norton & Company, London.

Autor DH, 2015, Why Are There Still So Many Jobs? The History and Future of Workplace Automation. Journal of Economic Perspectives, 29(3): 3–30.

Ricardo D, 1821, On the Principles of Political Economy and Taxation (3rd ed.). John Murray, London.

Marx K, 1867, Capital: A Critique of Political Economy, Volume I. Various editions.

Keynes JM, 1930, Economic Possibilities for Our Grandchildren. In Essays in Persuasion. Palgrave Macmillan, London.

Say JB, 1803, A Treatise on Political Economy. Various editions.

Acemoglu D, Restrepo P, 2018, The Race Between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment. American Economic Review, 108(6): 1488–1542.

Leontief W, 1983, Technological Advance, Economic Growth, and the Distribution of Income. Population and Development Review, 9(3): 403–410.

Piketty T, 2014, Capital in the Twenty-First Century. Harvard University Press, New York.

Ford M, 2015, Rise of the Robots: Technology and the Threat of a Jobless Future. Basic Books, New York.

Korinek A, Stiglitz JE, 2019, Artificial Intelligence and Its Implications for Income Distribution and Unemployment. In Agrawal A, Gans J, Goldfarb A (eds.), The Economics of Artificial Intelligence: An Agenda. University of Chicago Press, Chicago.

Ayres RU, Warr B, 2009, The Economic Growth Engine: How Energy and Work Drive Material Prosperity. Edward Elgar Publishing, Massachusetts.

Hayek FA, 1945, The Use of Knowledge in Society. American Economic Review, 35(4): 519–530.

Solow RM, 1956, A Contribution to the Theory of Economic Growth. The Quarterly Journal of Economics, 70(1): 65–94.

Romer PM, 1990, Endogenous Technological Change. Journal of Political Economy, 98(5): S71–S102.

Georgescu-Roegen N, 1971, The Entropy Law and the Economic Process. Harvard University Press, New York.

Daly HE, 1996, Beyond Growth: The Economics of Sustainable Development. Beacon Press, Massachusetts.

Standing G, 2017, Basic Income: And How We Can Make It Happen. Pelican Books, London.

Van Parijs P, 1995, Real Freedom for All: What (if Anything) Can Justify Capitalism? Oxford University Press, London.