Source: Adam Smith Institute
by Tim Worstall
“You have to have something to recycle. Which, if you’re building Civilisation 1.0, you don’t. It’s only when you’re building Civ 2.0, or 3.0, when you tear down the previous one and now have a pile of something that can be recycled to build the next version. The currently rich nations – US, UK, say – require very little virgin steel and actually export considerable amounts of scrap steel from those previous versions now being torn down. We’ve not checked the numbers but would certainly be willing to believe that demand for primary copper in both places is pretty minimal given the abundance of secondary. It’s places building out an urban environment for the first time – recently China, likely soon India, say – that require vast amounts of the new stuff.” (08/27/26)
https://www.adamsmith.org/blog/recyclings-great-but-you-do-have-to-have-something-to-recycle