All of these are technologies and all obey the same rules as to who benefits. We have innovators, entrepreneurs, consumers, and some split of the gains between them. Nordhaus’ finding is that it’s us out here, the consumers, who gain some 97% of the value created. Sure, Ford made a fortune out of the Model T, but who gained the value of being able to court in the back seat?
And yes, at least one estimate insists that the rate of virginity upon marriage declined markedly after the car became populist.