How the Digital Revolution is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy
Erik Brynjolfsson, Andrew McAfee
when demand is very elastic, greater productivity leads to enough of an increase in demand that more labor ends up employed. The possibility of this happening for some types of energy has been called the Jevons paradox: more energy efficiency can sometimes lead to greater total energy consumption. But to economists there is no paradox, just an inevitable implication of elastic demand.