You're basically talking about a post-scarcity economy, which is coming in bits and pieces already. Based on what we've already seen with digital goods, the answer will probably be artificial scarcity by fiat, with (I would guess) approximately equivalent results. The letter of the law will assign virtually all property to a few holders of (intellectual) capital, who will lease it out at great cost and with unreasonable restrictions. People will break the law regularly of course, and it will be loosely enforced - but most of the population will be law-breakers and thus subject to the whim of a police state.
