It’s an enduring problem that many people think capital isn’t supposed to become obsolete.
Duh. People do the same thing: if we don’t maintain them with food and so on, they depreciate down to nothing. Capital does the same thing.
But some stuff depreciates faster than others. The thing is, no one worries about how fast a Big Mac depreciates. Don’t believe me? Buy one and save it to eat later.
It’s really rather weird when you think about it. You might spend $1K on a piece of technology that you replace every 2 years. Fair enough. Did you spend $1K on fast food over that period? Probably so. And yet all of it would have depreciated completely long before the 2 year period is over. But we don’t worry about that. At all! We internally define some goods as ones we’ll be ticked off about if they depreciate, and other ones that we won’t notice if they depreciate. WTF?