Peter makes a good point about unnecessary obsolescence, but ask who pays our pensions, and where the money comes from?
The dosh comes from an expanding economy that always has to sell more and more goods and services. At present, the game is compulsory, with severe penalties for failure. Consider the old Myford, an enterprise that earned a good living for half a century by making and selling lathes and accessories. Over time two threats appeared: one was competition from anyone selling a more modern and/or cheaper lathe; the other was that Myford lathes last a long time in amateur service, and were priced such that second-hand Myfords were more attractive to purchasers than new.
The combination became a grievous assault on Myfords income. Companies exist to earn a profit, which pays wages, taxes, pensions, and more growth. As wealth is generated by economic activity if follows that anything that increases activity is good, and anything that decreases it is bad. Myford didn't find a way of increasing their income, and their people now do something else, that we hope is profitable, whatever it is. Standard right-wing thinking: the weak go to the wall. My mates in the old British Telecom were all made redundant by packet switching and fibre-optics. Although the payoffs were fairly generous, it was devastating to men aged 50 or so – too old to learn a new job, and too young to retire early. Brutal, but BT exists to make money, not to support a redundant workforce,
One way of generating growth is ensure that products wear out or become obsolete. It's important that they be replaced. The system works well. Instead of manufacturing small numbers of expensive ivory handled razors, with stones and strops for rich folk and barbers, industry churns out millions of disposable safety razors that everyone can afford and use. Apart from barbers, everyone benefits even though a quality long lasting item was replaced by a cheap plastic consumable. And to rub it in, safety razors are made with between 1 and 5 blades, in various geometries, to suit different faces and beards – more choice. A selected safety razor shaves better than an expensive straight razor.
Same principle is applied to cars, computers, TVs and pretty much everything else. As a result, prices are pushed down and the average standard of living increases. Sometimes, competition pushes quality up as well, but for price is more important for most commodity products. And there are always casualties, youngsters losing jobs, and old men discovering they can't talk to a Bank Manager, write cheques or pay cash.
There's a flaw in continual expansion as a way of getting rich. It relies on the world having enough resources to maintain growth for ever, and on people not realising the bubble is going to burst. Therefore at some point in the future I expect the world to return to making expensive goods that last a long time. As this will be a major upheaval, it will have to be managed carefully, and it will be difficult. Get it wrong, and people will not only have to work years longer for a pension than we did, but their pension might not be worth anything when it arrives.
Not impossible to manage diminishing resources, but it requires aggressive recycling, responsible consumption, and a shift to services rather than manufacturing as a source of wealth. And the transition could go bang because large numbers of people haven't understood what's going on yet, or accepted the trajectory, and would rather die in a ditch than reform. It's only human – everyone hates change.
Dave