This is what Buckminster Fuller called ephermalization, the ability to do more and more with less and less. But rather than an increase in leisure time one would expect from such gains, we have record levels of poverty and wealth disparity. Despite an economy that continues to grow in per capita terms, the gains of that economy flow into ever fewer hands.
A lot of people blame the "free" market, but the situation is anything but. The source of the problem is built-in structural theft facilitated by the state to benefit an increasingly small, politically connected, economic elite. Those gains in wealth have been enclosed as a source of rent through government enforcement of artificial scarcity using intellectual property laws and regulatory barriers to prevent genuine competition, and the radical distribution of wealth it would generate.
You can see how this theft works in the current wireless services market. The technology exists now for everyone in the world to have high-bandwidth communications (data and voice) with anyone else in the world for free, without any company or middle man whatsoever, using super cheap devices that cost less than $20. When something is free, it's one less thing you have to buy, and one less thing you have to work for. As far as radical abundance is concerned there is no functional difference between making everyone richer and making everything cheaper.