By John Tamny of RealClearMarkets
In a recent speech before the clients of research firm Applied Finance Group, Entropy Economics president Bret Swanson showed an ad from 1989 which featured “the most powerful computer ever!” The Tandy 5000 MC Professional System retailed for $8,499, mouse and monitor not included.
Further on in the presentation, Swanson noted that while Dell Computer customers can today purchase a 1 terabyte storage drive for $150, back in 1992 that same computer capability would have set the average consumer back $5,000,000. Translated, for a small fraction of what they would have paid roughly 17 years ago, consumers today can buy faster and more sophisticated computer technology without remotely breaking the bank.
