from the blog Emancipation Propagation:
Andy Kessler points out that to build an iphone in 1972 would have cost 100 billion dollars; one bit of memory in 1972 cost one dollar, and today's iphone comes with 32 gigs or roughly 32 billion bits of memory. He does so to make the point that technology improves the quality of life at the cost of inefficiencies (inefficient companies and processes and technology are displaced and eliminated). And that only the productive in a market economy will survive.
Politicians can arbitrarily meddle with market economies so that the productive do not survive. By imposing regulatory legislation politicians tilt the favor not to the productive but to the politically connected.
Listen below to the contrast in perspective of those that want to reward not the productive but the politically connected.
Andy Kessler: WNYC Brian Lehrer interview