Although the book is slightly out of date (about 10 years now), it is still relevant to the discussion, and really the only book I could find that addresses the issues comprehensively. Some may say that the author is too liberal, but I think he's really practical and covers all angles. He's not trying to sugar-coat recycling where it shouldn't be. Here is the closing bit from the book:
Why do we recycle? In the short run, before we are all dead, we recycle (and reduce waste and reuse things) partly in order to avoid the need for new landfills and incinerators. But there is much more to it than dislike of disposal facilities. At times, recycling saves money; the struggle to make it cost-effective is a vital and ongoing one. But advocates push, very often successfully, to extend recycling beyond the point at which it pays for itself. Recycling lessens the need for virgin materials, and reduces pollution from material extraction and manufacturing. Some types of recycling prevent litter or reduce landfill emissions. Local recycling efforts may provide a basis for new businesses to use recovered materials, creating local jobs and incomes.
As important as all these benefits are, they are not the whole story. The well-defined short-run advantages cannot explain the passion or the extent of involvement in recycling. For that we must turn to the vague feelings about consumption and waste, the desires for frugality and public participation, the belief that materials are ultimately scarce and must be conserved. In the long run, the materials we use freely today will be scarce, and our descendants will have to create a strikingly different, renewable economy. Contemporary recycling points toward that far-off future.
The last dangling question, from the beginning of this chapter, remains unanswered. Will the sustainable economy of the future have the feel of late twentieth-century affluence, or the frugal, hard-working mood of the nineteenth-century household recycling? There are too many uncertainties on the road to sustainability to offer a definite answer this early in the journey. But the practice of recycling pushes us in the right direction, toward the development of the technologies of sustainable material use, and toward the creation of less materialistic, more socially and environmentally engaged ways of living. There is no greater hope in any other direction. Indeed, in the long run there is nowhere else to go.