Not to completely disagree, but my point was that as the price of energy becomes lower, we will use more of it for things (Ski-Doos, RV’s, etc) that will make us all better off and wealthier. The economy is not static, cheap energy, like cheap smart phones, is an unmitigated blessing. Not all DEC employees found work writing iPhone Apps, there was some dislocation, but the world is a better place with more smart phones and fewer PDP-8.
At the risk of being branded a Luddite, I would disagree. While the world is certainly a DIFFERENT place with smartphones instead of PDP-11s, it isn't necessarily a BETTER place.
Although I will concede that in many cases, technology does improve things.
But that's a matter for another discussion ...