Scraponomics Episode 109: Things Are Changing

“The unpredictability inherent in human affairs is due largely to the fact that the by products of a human process are more fateful than the product.” — Eric Hoffer, American philosopher

With the volatility of the current markets, it’s hard to tell what form the scrap-processing industry will take. Will the commodity markets bounce back, or should we start to see these prices as the new norm?

The key distinguishing factor between previous economic crises and this one is that the economy is truly global now. What one country does economically and politically truly affects the others.

When you’re in the middle of it, it’s hard to step back and see the big picture. For example, a lot of people are excited about driverless cars (myself included!). One possible by product of driverless cars is that we won’t have a need for traffic lights. How crazy would that be?

My point is, as the world changes, so do the industries within it.

Scrap-processing will always be around because it’s needed to make most consumer goods, like cars, bikes, and buildings. I wonder, though, if we’ll have to view it differently. If prices remain extremely low, will there come a point when we have to charge to take scrap material? This is currently unfathomable in the scrap industry. After all, the reason material is recyclable at all is because it has value; a future purpose. But in the ever-changing global economy, it feels like anything’s possible.

I bring this up, not to be political, but to encourage thought. Remember, no matter what the scrap-processing industry looks like in the future, what you do will have an effect on us, and how we function will have an effect on you.

I just hope the by products of our economic and political decisions don’t outweigh the products, themselves.

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