It's possible to collect and sort the waste that has been thrown. In India, we have a community called Ragpickers, who sort the waste and sell the same to recycling. Like Plastic, Paper etc.
The Bio-degradable waste can be turned into a compost by very simple procedure. The rest can be used to generate energy. It all depends on what is the mix of waste being generated. But there is a solution.
Again the local authorities need to co-operate.