Moore’s Law is really a prediction made by the co-founder of Intel, Gorden Moore, that the number of transistors per dollar doubles every two years. In other words, computer power doubles roughly every 2 years. This law has predicted chip performance for almost 40 years.

However, many experts believe that the advances in chip design are not able to keep up because chips are becoming so compact and the size of the wires that connect transistors are limited to those allowed by the laws of physics.

Moore’s Law is really about economics as it relates to computing power and not raw computing power itself.

Moore’s Law is also sometimes quoted as doubling every 18 months instead of 24 months. The 24 month prediction has proven to be more accurate.