The notion that cutting hair makes it grow either quicker, or thicker, is a myth.
Hair that is at any point outside its root is dead, so cutting it cannot affect its growth, since it isn't growing at the point of cutting / shaving anyway.
What does happen, as my esteemed colleage Ms. Doll points out, is that the shape of the hair end changes, and appears to be sharper or thicker, which are both matters of perception rather than fact.
I don;t know if constantly waxing, and therefore removing the hair and root will eventually kill the folicle, but I can say with confidence that shaving does not affect the hair.
Thank you ladies, for all you do to make yourselves gorgeous, it is greatly appreciated by those of secondary importance in the process - men!