Our economy needs rare earth and other toxic metals. The computer on which I am writing, and on which you are reading this essay, require them. But currently forty percent of rare earth elements come from China. Just a week ago China announced restrictions on the export of francium and germanium. Now what do we do? Fortunately, Sweden (new NATO member!) found a big deposit of rare elements. (Because of their similar chemical properties, they are often found together in ores.) But it will take at least a decade for this deposit to supply our industrial chain, since unlike China Sweden has careful environmental guidelines.
An alternative is recycling. Already, electronic recycling is big business. If we can get new germanium and yttrium and ytterbium for our new electronics from our old electronics, there is no need for mining. Recycling makes more economic sense in some situations (such as aluminum) than in others (such as plastic). But if the alternative to recycling is to dump toxins on our fellow humans, recycling is always worth the cost. Do we all want to become a toxic ghost town like Picher, Oklahoma?
Even a gorilla can understand this. In a video, I explain this to a gorilla, which was the mascot of the Picher schools before they closed.
Accounting standards need to change to require companies to account for "externalites" as part of the cost of manufacturing.
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