Filed under: Capitalism, Domestic Policy, Economics, Economy, Free Markets, Freedom, Science/Technology, Technology, The United States | Tags: Best Buy Advertising, Computers and Change, Computing Power and Cost
Technology has advanced so rapidly that a laptop computer
today is 96% cheaper than a 1994 model
and 1,000 times better.
Some more good news from Economist Mark Perry at the
American Enterprise Institute.
Best Buy is currently advertising a Dell Inspiron 23.8″ Touch-Screen All-In-One computer for only $650 (without a printer), with about 1,400 tunes more hard drive space (1TB vs, 720MB) and 2,000 times more memory (8GB vs, 4MB) as the 1994 Compaq.
You spend $200 today for a basic laptop that has performance standards infinitely better than the notebooks available in 1994 that cost more than $5,ooo (in 2016 dollars). And you can get computers today with thousands of times more memory, speed, performance and disk storage space than computers in the mid 1990s at a fraction of the price. Sometimes we just accept these advances without really thinking about them and fail to appreciate the benefits of the change.
We hear constantly from Bernie Sanders and other progressives that all the economic gains from the last 20 years have gone only to the top 1% of Americans. But the top 1% could always afford any computer they wanted. It’s the poor, low-income and middle-class Americans who benefit from the “miracle of the marketplace” that now delivers $200 laptops.
Bernie doesn’t want to talk about Venezuela, He says he’s running for president.
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