Holding up prices
❝The US Bureau of Labor Statistics tracks prices for broad categories of goods over time. As this chart of prices for the last 18 years shows, prices have dropped dramatically in almost every tech sector. The drop in computer hardware is particularly steep.
The one exception? Cable, satellite TV, and radio service.❞
The chart is particularly interesting.
And Mr. Gruber is right one thing. This does show a lack of competition.
But I can’t help but notice something that I think Mr. Rosoff and Mr. Gruber missed. The two items on the chart that have risen in price are those with the heaviest government regulation/protection.
There’s not enough data to do any more that speculate. But at first glance that chart seems to confirm my free market beliefs. Government interference keeps prices high.