(copied from http://www.mgt.smsu.edu/mgt487/mgtissue/newstrat/moore.htm)

Gordon Moore, founder of Intel Corporation, based his business on the law that he enunciated. Moore's Law states that every 18 months, processing power doubles while cost holds constant. Moore's insight proved prescient. His law has been true through the years, and it appears that it will remain true for the foreseeable future. Telecommunications bandwidth and computer memory and storage capacity are experiencing a similar fate. This makes it very affordable for individuals and small businesses to be equipped with the electronic means to conduct commerce and transfer information as fast and freely as large corporations can.

IT