by Russ Roberts on October 23, 2006

in Prices

The iPod is five years old today. When it first came out, it held 1000 songs and cost $399. Today, for $349, you get 20,000 songs. It can also display videos and photos. It’s smaller, too. So it’s $50 cheaper and more than 20 times better.

I wonder how the BLS handles this when it calculates the CPI.


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