That's not growth capitalism. Growth capitalism requires constant growth in both supply and demand. Increasing supply requires increasing the usage of raw materials (not to mention the waste generated through their use). The reality is that we don't have an unlimited supply of any raw materials, so growth cannot be maintained indefinitely.
Recycling is not a solution at human time scales, because it is lossy. Recycling is a way of delaying depletion, not eliminating it.
And you're ignoring that we're talking about growth capitalism here. Here if recycling were perfect, if growth continues indefinitely then a point will inevitably be reached where demand exceeds the amount of supply that exists, recycling or not.
