Planned Obsolescence  is the calculated act of making sure the existing version of a product will become dated or useless within a given time frame.

The problem for businesses now became continually “stimulating the urge to buy,” as J. Gordon Lippincott argued in the book Design for Business. “Any method that can motivate the flow of merchandise to new buyers will create jobs and work for industry, and hence national prosperity,” Lippincott wrote. “Our custom of trading in our automobiles every year, of having a new refrigerator, vacuum cleaner or electric iron every three or four years is economically sound.”

Full article : https://daily.jstor.org/the-birth-of-planned-obsolescence/