Double Entry Accounting is SEVEN HUNDRED YEARS old.
Education went wrong by not making it mandatory in high school since 1950.
It is totally absurd that economists have not been talking about planned obsolescence since Sputnik.
What is the NET Domestic Product?
What has happened to the depreciation of all of the Automobiles purchased by American consumers since 1950? John Maynard Keynes never saw a television commercial for an automobile. ChatGPT says 650+ million cars have been made in the US since 1950.
So here we are half-a-century after the Moon landing and PhD economists cannot even talk about hundreds of billions of dollars of Depreciation.
But look what happened to the price of the Ford Model-T from 1908 to 1925. How much could Americans have saved by not getting excited about useless variations?
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