I think this only holds true if needs (or perhaps, desires) remain completely static. If standard of living never increases and what we want to do with resource

I think this only holds true if needs (or perhaps, desires) remain completely static. If standard of living never increases and what we want to do with resources never increases. If you want to compare Moore's law, technically the 5khz speed of the ENIAC would cost pennies today. So, why do we spend hundreds of millions on super computers? Simple, we already did what 5khz did for us, now we want to do more. If commodities are cheaper, new industries will spring up that make use of that pricing. The builders of the ENIAC may not have envisioned people coding in their basements to make a nice living, but that's what they paved the way for. If there are deflationary effects in action, though there will probably be down sides, I'm excited to see what new industries pop up from it.