BROADCASTS.com

b"How much is that smartphone really worth? Phil and Stephen discuss multiple analyses.\\n\\nEverything from 1991 Radio Shack ad I now do with my phone\\n\\nWe\\u2019ll get to those someday, but today, something much simpler. The back page of the front section on Saturday, February 16, 1991 was 4/5ths covered with a Radio Shack ad.\\n\\nThere are 15 electronic gizmo type items on this page, being sold from America\\u2019s Technology Store. 13 of the 15 you now always have in your pocket.\\n\\nHow much would an iPhone have cost in 1991?\\n\\nInnovation blindness, I\\u2019ve long argued, is a key obstacle to sound economic and policy thinking. And this is a perfect example. When we make policy based on today\\u2019s technology, we don\\u2019t just operate mildly sub-optimally. No, we often close off entire pathways to amazing innovation.\\n\\nThe iPhone in Your Pocket Is Worth Millions\\n\\nMy iPhone 7 has 128 gigabytes (GB) of flash memory, which would have cost around $5.76 million back in 1991.\\n\\nDo \\u201cThey\\u201d Really Say \\u201cTechnological Progress Is Slowing Down?\\u201d\\n\\nConsider the 256 GB memory iPhone X: Implemented in vacuum tubes in 1957, the transistors in an iPhoneX alone would have:\\ncost 150 trillion of today's dollars: one and a half times today's global annual producttaken up a hundred-story square building 300 meters high, and 3 kilometers long and widedrawn 150 terawatts of power\\u201430 times the world's current generating capacity\\nWT 375-686"