Professor- “I don’t think I’ve ever seen a black student graduate in the top quarter"

[psikeyhackr]

(I just bought a car that cost $106,000 when new in 2007, and it doesn't even have a back-up camera). And in many cases, the BETTER, newer stuff is actually less expensive in constant-year dollars than the older tech was when new.

Depreciation is a normal and natural phenomenon of capital investments being gradually "used up." If I use a car to go to work every day for ten years, there is essentially no depreciation; the tool has paid for itself over its useful life, by offsetting the costs I would have had to pay for transportation by other means.

Depreciation happens regardless of wheather or not the machine supposedly pays for itself. They are separate concepts. So durable consumer goods depreciate also. There were 200,000,000 cars in the US in 1995 even though most did not cost $100,000. If average yearly depreciation was $1500 per car that would still come to $300,000,000,000 per year. That does not count refrigerators, air conditioners, etc.

Our brilliant PhD economists, most of whom happen to be White, have not mentioned that for the last 50 years.

The Laws of physics do not change style year after year. Redesigning cars is Planned Obsolescence.