Rare earth elements (REEs) are at the forefront of discussions, given their crucial role in cutting-edge and eco-friendly innovations that propel the industrial revolution towards a green economy. These elements have become indispensable to various modern technologies, such as smartphones, electronic devices, and renewable energy sources. Many different concepts and analyses have been introduced, such as the chemical similarities among REEs, health risks and ecological damages, the negative environmental impacts of current recovery processes, and strategies for advancing REE recovery towards a circular economy. Although these elements have been widely used in various applications over the last 20 years, the literature on these aspects is fragmented and spread across different research areas, shared by multiple branches and application fields. These fields include safety concerns, economic challenges, and technology. Summarizing and classifying this literature is challenging due to its fragmented nature, the variety of topics, and the different approaches used. The quest for cleaner recycling strategies necessitates a comprehensive assessment covering economic, technological, and environmental aspects. The primary goal of this review is to provide a holistic perspective on REEs, with a central focus on their economic, technological, and environmental dimensions, particularly emphasizing reuse, recycling, and occupational safety. The review begins by addressing complexities of REEs, highlighting the associated technologies, environmental concerns, and economic considerations. It further explores the aspects of reuse and recycling of REEs, shedding light on the advantages, drawbacks, hazards, and costs associated with recycling technologies for REE recovery. Additionally, the review summarizes occupational exposure and safety considerations related to REEs.