I can understand that side of the argument. I somewhat liken it to 'limited resources' in the sense that when one such resource runs out, we need to the find another to achieve the similar function. In this sense, it would be the creation of 'new sets of jobs' to replace the ones that were lost to automation.

While I can't say I know anything for sure, I do see the more exponential progress of technology possibly beginning to catch up with us. It very well just be a matter of retraining versus the jobs flat out being lost. It'll be interesting to see what occurs over the next handful of decades.