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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Crystal Huff

Business

27 April, 05:32

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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Evan Spears · 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".