Check out these two pictures showing 1980 and 2010 electronics tools: Worth a thousand words.
One tool in 2010 does the work of 14 (by my count) in 1980. Can you begin to guess the cost reduction, even without discounting for inflation? How about the weight reduction or portability increase?
From Café Hayek, of course. This is the type of thing I talk about at my other blog, Outrun Change.