Over the past 25 years, the price of a typical desktop computer, despite considerable money supply inflation and improvements in the quality of PCs by factors of at least 1,000 (such as in hard drive space or processor speeds), has declined in money terms.
This is entirely normal when the free market is mostly fully enabled.
Under laissez-faire capitalism everywhere, an average person will during his lifespan see a huge variety of novel and astonishing magical things that he could never imagine might exist.
Note the dynamics: Rothbard asks, “May it not be possible that the great post-17th-century thrust toward liberty was only a mighty flash in the pan, to be replaced by sinking back into a gray and permanent despotism?”
And answers: “For agricultural countries, in a preindustrial era, can indeed peg along indefinitely on a subsistence level; despotic kings, nobles, and states can tax the peasantry above subsistence level, and live elegantly off the surplus, while the peasants continue to toil for centuries at the bare minimum.”
But: “Given the commitment of the mass of men to an industrial economy and the modern standard of living that requires such industry, then the triumph of a free-market economy and an end to statism becomes inevitable in the long run.”
If we could raise the people’s expectations regarding the entire economy to the level at which they already now expect the IT industry to improve, statism will be finished as an ideology.