I think this is a lot more myth than reality. For consumer electronics it's generally true but for most other things it really isn't. It is however used as an excuse for the lazy and wasteful to not bother fixing something. The concept of maintenance and taking care of things is also in serious decline.
People will spend tens of thousands of dollars on a car and then tens of thousands more to replace it after it dies very prematurely from lack of maintenance or a modest repair.
People will replace a $1000 refrigerator with a $2000 one when it stops cooling simply because they neglect to pull it out and spend 30 minutes cleaning the coils.
People toss a $500 mower/generator/pressure washer because it won't start simply because they didn't run it dry, let it sit and the carb is gummed up. $500 ------ away rather than take the time to clean the carb, or throw a $15 China replacement carb on it.
Many more examples where it is *not* cheaper to replace than repair.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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