We could feed the whole population of the world if we decided to, we definitely have enough production[1]. If we pretend AI-assisted automation can do most work - which still currently is an highly dubious claim - we could just provide food and shelter for free to everyone, if we so desired. It would require quite a lot of restructuring and dietary changes, but it is possible.
[1]https://online.ucpress.edu/elementa/article/doi/10.1525/elem...