The Video Phone in 1956. Only $41,500 per Phone.
March 6, 2012
This was the first video phone. The device never caught on. In today's prices, each phone was $41,500.
In 1964 at Disneyland, I actually used an updated version of it. It was connected to the New York World's fair. AT&T tried to make it commercial, but at $27 for three minutes -- about $200 today -- it did not catch on.
Today, a $50 webcam and free software from Skype lets you call anywhere on earth for free. In high definition color. No long distance lines are needed.
The Ludwig von Mises Institute conducts its international Mises Academy using this technology and a program called Webex. The applications in education are revolutionary. Price competition will bring education to almost anyone, anywhere.
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