When do you repair something, throw away and replace with like or consider changing to a better/lessor item and/or service?
Example 1: the handle breaks on a cheap plastic bucket made in Vietnam ... do you repair with a coat hanger, buy another plastic bucket or grow drought-tolerant plants and use the garden hose if necessary?
Example 2: the 1946 Austin car has seen better days ... do you restore at some cost and effort, buy a Hyundai i20 or upgrade to a Prius Hybrid and/or take the bus?
Project management is a balance between time, resources and money ... do you apply these strategies to your engineering problem solving? Should the governments of the world do the same?