I second that reco.

It’s logical if you look at specific examples too. Like, my dog has had to wear a cone on his head for the last few days, and I tried to imagine what other material than plastic it could be made out of. Anything else would be very expensive and less usable.

Then, when you think of all the other millions of applications of plastic in our world and how cheap it has made them for the same functionality as before, we obviously have benefitted a huge amount from that cost savings. Just think of how much plastic has made cars alone so easily reproducible.

Ignoring the externalities of plastic for a moment, the cost and efficiency improvements have obviously rippled through all of society. And that’s just one single innovation!

Now do the same thing for how we communicate, how we write documents, how we fly, how we produce food, etc. try to think of any single industry or activity you complete in a day that hasn’t been touched by efficiency and productivity improvements.

Now, ask yourself where have all those cost savings gone?

The only counterexamples I can think of are items that are truly scarce, such as single works of art by master painters, waterfront property in desirable locations, or gold, which can’t be produced more efficiently. but those examples prove the principle by looking at their dramatic pricing increases.