Wednesday, November 12, 2008

Technology diffusion and consumption shares



Notice how fast Technology 2.0 devices like Computers, Internet, Cell phone and microwaves have spread (among US households) compared to Technology 1.0 systems like radio, refrigerators, automobiles, telephones and electricity! Further, it is also true that the faster they spread, the faster their prices drop.

(HT: NYT and Visualizing Economics)

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