Ugh, I didn't posit that demand is infinite, nor did I even mention Jevons paradox.
In the the past 200 years we've seen colossal productivity gains from technology across every area of the economy. Over the same period, wages have increased and unemployment has remained stable. That's where my priors come from. I'll update them if we get data to the contrary, but the data we have so far (like this paper) mostly confirm them.
In the the past 200 years we've seen colossal productivity gains from technology across every area of the economy. Over the same period, wages have increased and unemployment has remained stable. That's where my priors come from. I'll update them if we get data to the contrary, but the data we have so far (like this paper) mostly confirm them.