Also here is the summary from Wikipedia on what Post-scarcity means:
Post-scarcity is a theoretical economic situation in which most goods can be produced in great abundance with minimal human labor needed, so that they become available to all very cheaply or even freely. Post-scarcity does not mean that scarcity has been eliminated for all goods and services but that all people can easily have their basic survival needs met along with some significant proportion of their desires for goods and services. Writers on the topic often emphasize that some commodities will remain scarce in a post-scarcity society.
No I did not. In the current patent system, once a piece of knowledge is discovered, only a single person or entity is legally allowed to use it for 20 years.
In the system I described, anyone is allowed to use it, modify it, and improve on it, immediately. Discover something great that can improve lives? Great! You'll be rewarded for your efforts, but we're not going to wait for you and you alone to figure out how to setup a global manufacturing and distribution supply chain to get it to everyone, and we're not going to prevent anyone else from daring to improve upon it