Writing in the new york times on the technology boom of the late 1990s, michael lewis argues, 'the sad truth, for investors, seems to be that most of the benefits of new technologies are passed right through to consumers free of charge.' what does lewis means by the benefits of new technology being "passed right through to consumers free of charge'?

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Business

Gavyn Ellison

31 March, 13:20

Writing in the new york times on the technology boom of the late 1990s, michael lewis argues, 'the sad truth, for investors, seems to be that most of the benefits of new technologies are passed right through to consumers free of charge.' what does lewis means by the benefits of new technology being "passed right through to consumers free of charge'?

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Justice Reynolds · Answer 1

He means that in the long-run, the price is equal to minimum average total cost. In this sense, people consumers receive the new technology "free of charge".