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Would a genius humanity even function?

Imagine the average global IQ magically went up from about 90 to 160. How would civilization even function anymore? Nobody would want to do the vital yet mindless manual jobs anymore. You could try to put people into slavery but they'd probably figure out a way to escape or overthrow you. Would we just invent technology to do all the work for us instead? Would war and crime skyrocket because of the increased scheming? Sure, science and technology would advance beyond our imagination, but the world could also devolve into a wasteland because of the constant backstabbing and plotting, with pockets of utopia scattered across the globe (like western countries). Would the rich become even richer?

Or, the world becomes designed by 200+ IQ gigageniuses and 160 retards wouldn't be able to compete, just like how the average person cannot outsmart someone with a 140+ IQ today. Which would mean nothing would really change except the way people make a living. It's safe to assume most current jobs would become automated. What could people do to make money in a world where everything is already automated, and even the machines design and build themselves? Imagine you shrunk down to the cellular level and had to clone DNA for a living. There's no way you could outperform the enzymes that already do it, making you obsolete. That's how a 160 IQ human would be in an automated society designed by millions of 200+ IQ chads. There's no need for human work outside of fixing things every now and then. Would humanity discard the concept of money and work and instead focus on art and advancing science and technology, surviving off weekly care-packages made by AI and machines?