I think you can, if you build in durability (a phone that lasts 7-10 years vs 1-3 year lifecycle, for example. Or a toaster oven, or shoes which get repaired at the cobblers, etc. We can make the TCO of something cheaper long term, if lifetime and repairability are taken into account.

Now, unsaid is that means that advertising and consumerism must be minimized and provide utility other then make you buy the new shiny trendsetting thing.