Ending the Depression Through Planned Obsolescence

"Ending the Depression Through Planned Obsolescence" by Bernard London presents a controversial economic theory from 1932. London argues that the Great Depression was caused by overproduction and people holding onto goods too long, rather than a lack of resources. His core proposal is that the government should assign a fixed lifespan to all manufactured goods, from shoes to buildings. Once this "lease of life" expires, the items would be legally "dead" and destroyed to stimulate new production and ensure full employment. The plan also suggests a novel tax system, where continuing to use "dead" goods would incur a tax, and the government would provide receipts for turned-in obsolete items, usable for sales tax on new purchases, thus creating a continuous cycle of consumption and production.