Moore's Law for consumer electronics?

Moore's Law is one of the reasons that inflation has stayed relatively low.

Link: Werblog: Honey, I shrunk the camera.

We're used to the Moore's Law cycle of increasing price-performance for personal computers. Double the speed, or half the price, every 18 months. We're not used to the same curve for consumer electronics. VCRs, film cameras, and TVs get better year-to-year, but not like this. For the first time, the technical guts of my camera are functionally equivalent to the technical guts of my PC, benefitting from the same process improvements and economies of scale.

I don't think anyone has quite fully processed the implications of Moore's Law for consumer electronics. It means a different upgrade cycle for vendors, and different expectations for customers.