Faster flight times are like better fuel mileage. Once you reach a decent result, it's harder to justify more. With gas mileage, once I get about 35 miles per gallon, the cost of better exceeds any likely benefit. Once we can travel anywhere in about 24 hours or less, it's hard to justify the cost of better. In general, there is an economic optimum for most solutions. It's fuzzy because factors like comfort come into…
> Once we can travel anywhere in about 24 hours or less, it's hard to justify the cost of better. Clearly you've never travelled with a two year old =) There are many cases where travel just isn't worth it, and the limiting factor is time rather than money.
As for the limiting factor being time, rather than money, Stross's article gives good examples of there not being enough people willing to pay the exorbitant costs.