We will go back to the situation that existed in the 19th Century.
Hi bbotcs, yes history will look back on the years 1950 - 2050 as an economic/social blip.
The difference between post 2050 and the 19th century is that station in life will be heavily influenced by intelligence and talent, as opposed to who your parents are. There will still be many advantages to being born privileged, but even if you are born to the masses, there will still be opportunity for the 20% who are smart, talented, or really good looking.
As for over population, I think it will be self correcting in 1st world countries. Cuz I predict by 2050, after 2 decades of constant innovation and research, the Japanese will perfect the affordable "female companion bot" which most guys will prefer to the real thing.
Things will get VERY WEIRD after that.
Chris