Car prices seem to rise non-stop despite advances in manufacturing technology. But a TV, or smart home devices, or some other similar piece of home tech continually becomes cheaper from the time it is released. Why?
In: Economics
They already did that.
But it happened a century ago.
The first automobiles were introduced in the 1880s and cost $30,000 in today’s currency. No roof, no doors, no lights, crank start, no brakes, steered with a tiller and went slower than a horse.
By 1925 the Ford model T cost $4,500 in today’s currency. It had an enclosed cab, lights, brakes, steering wheel, battery, starter switch, pneumatic rubber tires, and reached 45 mph.
You were just born too late.
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