But technical improvements that decrease resource extraction can continue indefinitely at a constant rate.
Provided that you can come up with them!
I have never found that the creative process can be rationalized or linearized in this way. Imitating and analogizing is almost that rational, but when you have finished with that, the transition started by the new technology is complete and stops.
Your second paragraph is much to the point. The Fates are kind.
Economic evolution proceeds through boom/bust cycles, that seems to be the case. En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
