Rapidly falling prices for technology

Anita Campbell writes at Open Forum about how technology prices have kept dropping.

On a similar note, at Cafe Hayek Russell Roberts pointed out in late 2006 that “When [the iPod] first came out, it held 1000 songs and cost $399. Today, for $349, you get 20,000 songs. It can also display videos and photos. It’s smaller, too. So it’s $50 cheaper and more than 20 times better.”

In 2008, you can choose from many more iPod models but you can also get that classic 20,000 song version for $249, and a 40,000 song version for $349.