Saturday, January 8, 2011

VERY cool graphic on the life-cycle of various technologies---one innovation replaces another AND becomes less expensive!!

Observe Creative Destruction as it happens.  Innovation either improves or destroys existing technology  allowing a new and improved version to come to the market-place.  Graphic is measured since 1980 and it shows by the size of the bubble the relative change in the cost of the good over time. The axis on the right shows the number of units of the good sold...I am always amazed by the changes that have taken place in my lifetime AND yours, all you young people! (click on image to make bigger OR go to the source HERE for full screen view)

Source Washington Post

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