Economics Behind Recycling


Recycling is a much-needed thing with the current way our environment is headed. As CO2 emissions rise, and the amount of trash and plastic in places they don't belong, recycling can help some of our environmental issues. Not only does recycling benefit our environment in a positive way, but it also has a large impact on our economy. Each year, recycling companies generate $200 billion for the U.S. economy, although this number fluctuates up and down this is still quite a large number in of itself.

Although it might seem as if the U.S. was profiting off of recycling due to crushing cans and selling them to recycling plants, that is not true. First of all the recycling industry bring in many jobs. According to the EPA, recycling accounts for 757,000 jobs and $36.6 billion in wages across America. Think of every single green garbage can waiting outside of a house to be picked up by trash collectors. Then think of all the facilities this recycled material needs to be brought to and sorted out so this plastic can be reused again. These are a couple jobs fueled by the power of recylcing.

Not only is this beneficial to making certain jobs it is also a lot cheaper to recycle. Sometimes dealing with trash and the build of it can be a hassle, creating higher taxes for having larger trash bins that need to be emptied out. Trash also uses a lot of energy and energy equals to wasted money, which can instead be used by companies to find and buy second-hand plastic for a fraction of the problems they would have to deal with when handling "true" trash. In other words, depending on the materials needed, manufacturers can save up to 90% of their production costs by using recycled materials rather than "new" ones. This is a good thing because it can also reduce the resulting prices of their goods allowing customers to save more money.

https://www.goevergreenllc.com/the-economic-benefits-of-recycling/
https://www.waste360.com/business/new-economics-recycling
https://www.birchplastics.com/how-recycling-helps-the-economy

Comments

Post a Comment

Popular posts from this blog

How Did Nutella Take Over the Breakfast World?

Image
Everyone has heard of it, the delicious creamy breakfast spread, Nutella. However, what no one questions is how it became an overnight sensation that still continues to hold unwavering popularity. Nutella was originally created by Pietro Ferrero around 1946 and only did his son really help to bring it to the market in Europe eventually creating a craze in the United States. At Colombia University the undergrad students were so enamored with the spread that they were swiping tubs full from the dining hall costing the university as much as $5,000. Sales only truly started to pick up in the states when advertising began, making the sales triple to $240 million. Focusing its branding on a breakfast market by becoming one of the typical spread such as jam and butter to put on your bread. Then they were able to even reach a family status, that Nutella was a spread that could be enjoyed by your entire family, something that can be shared, but more importantly something that is sp
Read more

The Opportunity Costs of College

Image
The concept of opportunity costs has much more applications in the real world than I first imagined. The opportunity cost of one thing is the value of that which is sacrificed to obtain it. When I began to research I was stunned by the number of examples and situations, but the one that interested me the most was the opportunity cost of college. We are all about to go to college in just a couple months, so of course, I wanted to see if this upcoming journey is going to be worth it. The first cost of college: tuition. College is not cheap and according to the College Board, during the 2017-18 school year, the average cost of tuition and fees was $34,740 at private colleges. Now assume it takes you four years to graduate and that is approximately $140,000 that you spend on a college education. Thus, by deciding to go to a private college, the money spent is an opportunity cost as it is something that you did not have to spend if you didn't go to college. In addition, by going to
Read more

Movie Theater Popcorn

Image
The experience of watching a movie in theaters isn't replicable. There's the large screen, the comfy chairs, surround-sound systems, and most importantly, the popcorn. Yet, movie theater concession are notoriously overpriced. Why? A study conducted by Stanford and UC Santa Cruz found that the strategy of pricing concessions high and keeping tickets low attracts more customers within a larger income range. By charging less to allow consumers to watch movies on a big screen, more people (especially those that are price-sensitive) are able to enjoy this experience. The movie ticket is a primary product in relation to a theater's profit model, and the snacks are secondary products: you don't have to buy concessions to enjoy a movie, but it certainly ups the overall experience. Most theaters rely heavily on concession sales to keep themselves afloat. Due to low revenues from tickets (a portion of the profits go to movie distributers), profits from the sales of popcorn an
Read more