There was a recent research study at the University of Kent in the UK that stated “Cheaper fashion causes faster fashion change”, and this study was mentioned in a recent “Futuristic Magazine” by the World Future Foundation. Okay, now let’s take this topic and ask a much better question, okay? “Does Planned Obsolescence Increase the Speed of Innovation in Society and Civilization?” Well, what is the answer to this, yes or no? And if the answer is yes, then why, and if the answer is no, then let’s hear it.
Okay, maybe you’re in the old YES camp. Ok well, it is true that when something fails it must be replaced by something that works better, or the latest new. Yes, this means additional sales of that item. But planned obsolescence also causes consumers and buyers to lose confidence in the products of that industry.
If your answer is NO, then you could argue that if buyers like the industry, they will want the latest, and consumers and buyers will have confidence in the products they buy in that industry, therefore there will be more advantages and therefore therefore, more capital flows from people to the sector or industry for the next big thing. A good example could be Apple Computers.
You could say that since laptops have improved and become stable and more reliable platforms, they have reached their peak and therefore there is no money in making new laptops, because the old ones last 3 times longer and there is no need to buy a new one. Whereas, if they go out, crash, break or stop working then the owner has to buy a new one, thus more sales and more profit potential for the sector, which means more capital flows to provide those estate.
Perhaps this is what GM, Chrysler, and Ford determined in trying to make cars cheaper and maximize profits? It was counterproductive, right? So is there a happy middle ground? Some planned obsolescence and yet not much, what turns out to be the best metric and if so what is that formula? Is it different depending on the industry? And will playing with that figure increase or decrease the speed of innovation? If you have any thoughts on this reality, or have considered any of this yourself, we sure would like to hear about it. Please consider all this, it is an important issue indeed.