The first digital watch in 1972 cost $2,100…

"Casio 3157" by Reg Natarajan, CC BY 2.0
Casio 3157” by Reg Natarajan, CC BY 2.0
Something to consider:

[In April 1972,] Hamilton introduced the world’s first commercial electronic digital wristwatch. It retailed for the pricey sum of $2,100.(It would go for about $11,400 today.) By the end of the 1970s, however, the price of the average digital watch dropped drastically; they would regularly retail for under $10 a piece. And in the 1980s, they became a novelty. You could even find them in cereal boxes as cheap giveaways.

That’s how the free market works. A new gadget comes out, people like and want it, and inside of eight years the price point drops to less than 0.5% of the initial price.

Think that if somebody in the government had decided what digital watches “should” cost, that would have happened? If you believe that, you probably still think you can keep your doctor if you like your doctor.

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