How many of you have traveled to developing countries? Most of the world is not sitting in the cubical playing armchair philosopher. They're raising families and focusing on the necessities. And as unbelievable as it may be from our first world pedestal a lot of them are very happy with their simple lives.
I grew up in the American countryside. Some of my best friends still hunt and farm for their meat and eggs, and grow vegetable gardens for their vegetables. They'll spend some mornings on their boats fishing... while taking calls and photos on their iPhone.
Technological efficiency in free market capitalism will make many of our current jobs obsolete, but people will keep finding ways to survive, create, and enjoy their life. I don't believe socialism is the answer to "How will the masses get their Cornflakes?"