It all has to do with supply and demand.

The ignorant people spend their money on junk. The smart ones use it wisely. If it isn't there, they can't spend it.

Even if the money is there to some extent, when it becomes cheaper to make it yourself, or find a way around the niceties, we'll do it. During the Viet Nam war, the Viet Cong were making radios out of our discarded food cans. If they can do that, we don't need industry to make things for us. We can make them ourselves.