It hasn't so far. The way we measure economic inputs of all sorts, from materials to labor, is by the cost. In order to be feasible at all, recycling requires subsidies from numerous sources, including the unpaid time to sort and carry out materials in the household to their disposal by the collectors to, frequently, their reprocessing into usable manufacturing feedstocks. Were it viable, no subsidies would be necessary. It would pay for itself.
Should critical raw materials shortages ever arise (despite a century of dire predictions they have yet to) then the landfills could be mined to recover usable categories of trash. Until then, we all would be better off not going out of our way to pour more money down the rathole of recycling.