Techno-Economic Leveling

Cars, it’s rightly said, are becoming like cell phones – but in a way that’s different than the purely techno-gadget way most people mean when they say this.

A techno-economic leveling is under way, the same as has happened with our phones. 

The $60 smartphone you can pick up at Walmart may not have quite as much memory or as high-res a camera as a top-of-the-line iPhone, but it still has one helluva camera and does pretty much everything the $600 iPhone does. It certainly makes a phone call...