The 1954 color TV versus the 2018 TV, The beauty of capitalism

Generally speaking, electronics has been a competitive and lightly regulated part of the economy. So it isn’t a surprise that costs have come down (in real terms too) so precipitously over the decades. There is a drive in the space to better the competition, to produce a better phone, or gaming system, or TV. That’s what we as consumers want.

But when the government inserts itself into a part of the economy, invariably that part of the economy becomes more crony and less dynamic. Products also become more expensive than they should be and quality often suffers.

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