That's the theory. In the actual world, unumployment keeps a pressure on salaries that increases the difference between rich and poor (which leads to problems with consumption and credits...), capital saved by the share holders isn't properly reinvested in real economy (financial investments in companies are algebraically negative...).

In other words, automation and technology are tools in human's hands, and we still have to fight for our material/educationnal/environmental/human desires.