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How much would an iPhone have cost in 1991?dig up the old ad and make the point about the seemingly miraculous pace of digital advance, noting that an iPhone incorporates the features of the computer, CD player, phone, “phone answerer,” and video camera, among other items in the ad, all at a lower price. The Washington Post‘s tech blog The Switch picked up the analysis, and lots of people then ran with it on Twitter. Yet the comparison was, unintentionally, a huge dis to the digital economy. It massively underestimates the true pace of innovation and, despite its humor and good intentions, actually exposes a shortcoming that plagues much economic and policy analysis.
Read more here : http://www.techpolicydaily.com/communications/much-iphone-cost-1991/