> This reduces demand for new devices and pushes the price downward.
That's not right.
In the common case of a multivendor industry where production is not limited by resource constraints, reduced demand raises prices due to economy of scale.
What sorts of repairable goods aren't limited by resource constraints in today's marketplace. The most common constrained resource being integrated circuits.
Moore's Law depends on continued demand growth for integrated circuits. So calling it a constrained resource is backwards, even if it can behave that way in the short term.
Moore's Law isn't a physical law of the universe, it's an observation of what is ultimately a short window of progress extrapolated into a guiding principle. More like an aspirational metronome than a "law" per se. And some observers have claimed that it's no longer bearing out
Right, it is a consequence of continued demand. As demand for ICs grew, increasing investments into fabrication technology allowed Moore’s Law to continue. As demand stops growing, Moore’s Law slows. It’s a socio/techno/economic phenomenon.
That's not right.
In the common case of a multivendor industry where production is not limited by resource constraints, reduced demand raises prices due to economy of scale.