An excellent article, Umair - I spotted this 20 years ago, though I never managed to articulate it properly. Basically we live in a straight-line economy which assumes that the Earth and Her resources are infinite. They aren't.
The straight line from resources -oil, minerals - goes through manfacturing into stuff - goes through getting bought - goes through being used for a short time - goes through being thrown away into a dump or incinerator.
We need a mainly cirular economy where most things are recycled serveral times then broken down into compost. It'll move much slower and be a lot more parsimonious.
Clearly predatory capitalism is simply not capable of doing that. So there will have to be some kind of revolution to get rid of it.
I don't want a revolution in the old sense - destructive, chaotic and normally ending in the rule of a psychopath. We need a slow revolution which takes longer but achieves better results.
We need to start now.