2 ms·
Not universally: The value of $1 (nominal) worth of computing resources and information storage in 2018 is surely thousands of times the value of $1 (nominal) w
by twoodfin 9y ago
Not universally: The value of $1 (nominal) worth of computing resources and information storage in 2018 is surely thousands of times the value of $1 (nominal) worth of the same in 1958.
EDIT: Some quick math on deflation in storage costs. The IBM 305 RAMAC[1] was introduced in 1956, provided 5MB of magnetic storage and cost $3,200/month in 1956 dollars. To pick a random modern storage provider with a similar pricing model, in 2018 Dropbox offers 1TB for $10/month. Putting aside all the other advantages Dropbox gives you over a 305, the pure storage value of $1 (nominal) has gone from 1.6KB/month to 100GB/month, a multiple of over 50 million.
[1] https://www-03.ibm.com/ibm/history/exhibits/650/650_pr2.html https://www-03.ibm.com/ibm/history/exhibits/650/650_pr2.html
- notahacker 9y agoFocusing on the exceptions doesn't help the rule. You could get an average US house for $20k and a brand new car for $2k in 1956, and a $4k annual income was a comfortable middle class living. Commercial flight wasn't just prohibitively expensive by modern standards in 1856, it was impossible, but you could live on $100 a year at the time. If you want to pay 2118 people to resuscitate you (in the unlikely event the technology is feasible and people are willing and able and developed) you're going to need to invest that money well.