In the Culture everything 'living' is basically just a pet of an AI.
The term living does not really apply since all sentients are infomorphs.
Post scarcity in that context means immortality and inflation of all aspects of life, happiness, art, overcoming obstacles, sense of success, all lose meaning since all of it has been done ad nauseam by ever increasing numbers of the members of the Culture. All the wickedness of New Eden would be there because of the base nature of humans but it would be suppressed by AIs and superior mind control tech.
Wa-Hey, the perfect future where the Big Brother is in your head.
In the current economic system that is based on scarcity also the power is distributed in exactly same way (wealth is economic power, those that have economic power dictate everything else.)
The same thing goes with the illusion of representative democracy.
The representatives make their decisions based on what increases the overall economic power of the nation, which means they will make their decisions based on what benefits those that have economic power. Since those that have the most of the economic power are the minority, there is no real democracy. Another problem with democracy is that my ignorance is as good as someones knowledge, by having demagogues addressing the lowest common denominator those that are ignorant will always rule.
Changing the economic system would be the key to post scarcity, but to reach that infrastructure for post scarcity you would need economic power, and those that have it are not dumb enough to shoot themselves in the leg and lose their political power as well.
The way I see it education would be the key to breaking the cycle that we are currently part of, the problem with the global culture is that no nation can justify investing money in the education of their citizens because that investment can always walk across the border and be the asset of another nation.
Therefore (at least in nordic countries) the public school system is getting worse and worse, which will lead to the superiority of private schools that will enable the cycle where only the economic elite will be able to educate the ruling class like it has happened in the UK and the US.
At least in Finland we are currently at a situation where 75% of our representatives are from families that have have been 'representing' our people for generations.
I think we need an emoticon that waves around a plaque that says 'The End is Near'.
Personally I believe that the blind belief in technology and science to 'fix things' is a bit naive.
It is up to education and personal choice, I think its more about the microcosm than the macro.
The big things won't change the world, the small things will.