Philippine E-Journals

The Economics of Recycling and Remanufacturing

Edgardo N. Bolinao

Discipline: Economics, Business

 

Abstract:

Scarcity is the basis of our current way of life and why capitalism is arguably the most efficient way to allocate resources. At the most basic level, the field of economics is predicated on the principle of scarcity. With the Earth's limited resources, everyone must make the best use of what he has, the basic tenet of the Japanese efficient allocation of scarce resources-people, time, money (NPV, IRR), etc. The good news is that there is something that every individual can do to help "re-purpose" the resources, and that is: RECYCLE!