New Technology Makes Cost Finite, Better Technology Drives Cost Down
Technology reduces cost from infinite to finite, then to cheap. Before rocket companies, going to space had infinite cost—it was something money couldn’t buy. Rocket companies reduce that cost to a finite number—you can now pay to go to space—and as rocket technologies advances, it will get cheaper.
Five hundred years ago, no amount of money could buy antibiotics—it had infinite cost. Antibiotics are pretty affordable these days, thanks to technology. Likewise with personal hygiene products, refrigerator, global instant-messaging, electric vehicles, and so on.
What are things money can’t currently buy that our grandkids can buy for cheap?
July 21, 2022