13 years ago:
He talks about the Laws of Economics but not the Laws of Physics.
In the 20th century consumers bought technology that was never possible before. Physics makes technology wear out. But we didn't make stuff that didn't last before 1900. The sewing machines made in the 1800s could last 100 years. They don't make cars like that. But our economists have ignored the depreciation of all of this junk but if we make and buy more junk they called it economic growth.