Economists Say We’re Using Our Devices Longer and That’s Bad for the Economy
In order to improve the economy, you have to throw away the things you use and then buy them again.
Published 3 weeks ago in Facepalm
After generations of disposable goods and electronics, it seems that companies are finally understanding that we want to keep our possessions for more than a few years. Companies like Apple have been dragged kicking and screaming into allowing their devices to be repairable. Software updates are now available for years after a product has been discontinued, and the shift to universal USB-C means fewer overpriced accessories turning into e-waste.
But according to economists, this is a problem.
Well, it turns out that buying useless crap you throw away after only a year and a half generates a lot of economic activity. Now that people are doing that less often, economists say we’re missing out.
According to CNBC, the reasons are twofold. First, less money spent on devices means less money in corporate pockets (sounds like a “you” problem, not a “me” problem!). But second, they claim that hanging onto old devices can lead to productivity issues. Old devices, they say, are slower than new ones and may face compatibility issues. The economists argue that not fixing these problems can slow the economy.
Sure. But you know there’s a big difference between “I don’t need the new iPhone 17 because my iPhone 15 still works fine” and “My office still runs Windows XP,” right?
According to economists, if you want to help the economy, throw your phone in the trash. Then again, if these economists really wanted to move things along, they could just give us their salaries to spend. What? You don’t want to do that? Sorry, I thought you cared about the economy!