Question

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'?

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".