Do Cheap, Mediocre Products Drive out Good Products?

I’m sure that “older is better” mentality contributed to much of the mining, manufacturing and steel production leaving the Rust Belt.

Yes. The Pyramids are very old and built very well. They are not, however, the most efficient design for a structure if you want to maximize the livable space inside.

Yes, John Henry the steel drivin’ man beat that ole machine. And then his head exploded.
Also, cars are DESIGNED to crumple in accidents so they don’t kill what’s inside of them.

That’s true for ELASTIC demand, or in other words, demand changes inversely with price.

INELASTIC demand, on the other hand, is the situation where the demand doesn’t really change with price. Gasoline, heating oil, residential natural gas, water, cancer drugs, etc… are all examples of relatively inelastic demand items.

Within reason, a person who burns 2 gallons of gasoline a day on his commute is still going to burn that same 2 gallons regardless of whether it costs $0.87 or $3.50.

As for the OP… I think that the availability of cheaper, lower-quality products doesn’t do anything to change the availability of higher-end products. What it may do is increase the price somewhat, but they’ll be just as available as people want them to be.

Let’s use an example:

Just because Jimenez Arms’ pistols exist and are available for under $200, doesn’t mean that people don’t buy H&K, Colt or Sig-Sauers for 3 times the price.

For that matter, just because Ruger makes pistols for 2/3 price of a H&K or a Sig, doesn’t mean that people don’t buy the Sigs or H&Ks.

What the existence of Jimenez and Ruger do accomplish is to allow people who for whatever reason, wouldn’t buy a pistol for over $200 or say $400 to buy one. The people who want Sigs are still going to buy them.

If all pistols were as nice as Sigs, it wouldn’t mean that they’d be cheaper; just that fewer people would buy them.

Look at something like a TV; way back in the day when they were repairable and very expensive, families typically owned one or maybe two. Nowadays, they’re relatively disposable, yet families own multiple ones. And like others have said, my $200 27" Philips beats holy hell out of my folks’ old 27" RCA from 1979 that was like $500.

Word.

Heck, even 20-25 years ago you bought a car expecting 5 years. You couldn’t even get a loan for more than 3 years. Now, even a cheap little car you can expect 10 years easy - and with much less tinkering and repairs. Price for an equivalent model is probably lower to adjusting for inflation (heck maybe not even having to adjust for inflation).

Cars have mushroomed in quality in the last 20 years alone, let alone 30-40 years.

I’m glad you said that so I wouldn’t have to.

Businesses are “quality” neutral. If they are churning out what anyone perceives aesthetically as “cheap and mediocre” it’s merely because that’s what most people actually want. What appears to be driving out “quality” is merely the preference of the multitude of our fellow man. You want “quality?” Change the minds of the multitude.

There’s a difference between not caring about quality and not having the information to make an informed choice.