De-Materialization
3rd April 2012
Arnold Kling looks on the bright side.
Twenty years ago, most well-off US citizens owned a camera, a video camera, a CD player, a stereo, a video game console, a cell phone, a watch, an alarm clock, a set of encyclopedias, a world atlas, a Thomas Guide, and a whole bunch of other assets that easily add up to more than $10,000. All of which come standard on today’s smart phones…that’s how quickly $10,000 worth of expenses can vanish.