"Demand" can be a bit of a fuzzy thing. For instance, all those people who were now had "enough" clothes and were saving money from the lower prices were inste

"Demand" can be a bit of a fuzzy thing. For instance, all those people who were now had "enough" clothes and were saving money from the lower prices were instead buying other things, creating increased demand for some other sector of the economy. Which, presumably, would eventually lead to more jobs elsewhere. I think a better moral for the story is to expect technology to have significant local effects on employment in particular industries (either up or down), but the evidence for the economy as a whole seems to be much more neutral.