A Circular Economy Is About the Economy

Abstract

In this paper, I outline the scope and the potential of a ‘circular economy’ in the future, one which goes beyond a concentration on recycling and waste management. I argue that three key elements are paramount. The first, and most widely discussed, is its ‘circularity by design’ characteristics. Secondly, but rarely discussed, the intimate relationship between the materials cycle and money and finance systems. Thirdly, encompassing both but often ignored: the way in which a more holistic interpretation of the concept is attached to a worldview or ‘framework for thinking’. This last element is a perspective that understands the economy as less like a machine and more like a nested living system. This worldview includes a stock maintenance emphasis placed in relation to feedback-rich flows. It extends, ineluctably, to the regeneration of natural capital and the restoration of social capital. A systems perspective includes a renewed focus on creating a refreshed industrial or productive economy at all scales as opposed to an expanded extractive or ‘rentier’ economy which is parasitical. This is quite unlike the current, linear, economy which not only extracts and runs down natural and social capitals (or exchanges it for financial capital), but also sees surplus financial reinvested largely in existing assets rather than creating new ones. The opportunity exists to create a ‘systems aware’ circular economy, one which is consistent with our contemporary understanding of ecosystemic relationships, the maintenance of capitals or stocks, the interdependence of different scales and the clear distinction between effective and efficient.

A Call for a Socially Restorative Circular Economy: Waste Pickers in the Recycled Plastics Supply Chain

“…Resource recovery through global recycling networks is currently a key avenue for corporate circular economy work, distracting attention from more disruptive and efficient versions of circularity [35,97]. This avenue has been accelerated by the recycling commitments of several leading multinational companies who have adopted goals of greater responsibility for their plastic pollution.…”

“…One well-established criticism of recycling is that it is the least profitable and least resource efficient loop in a circular economy [68,86]. Furthermore, recycling goals can distract efforts from bolder versions of the circular economy [97]. Preferable options include reusing existing plastic items and sharply reducing the production of new plastics.…”

A Critical Appraisal of Review Studies in Circular Economy: a Tertiary Study

“…Valuable materials can be recycled when their components cannot be maintained, resold, or remanufactured economically anymore. It takes energy and effort to recycle, but the materials are valuable, so it is economically viable [42]. Recover is related to the use of embedded energy from non-recyclable waste material.…”

Circular Economy Business Models: a Repertoire of Theoretical Relationships and a Research Agenda

“…The development of any research field cannot progress if concepts are not defined clearly. The current understanding of CE is ambiguous and multifaceted, and, therefore, conceptual and theoretical consolidation is highly welcome [ 11 – 13 ]. In response, this article has contributed to advancing the scholarly literature on CE through establishing some theoretical anchoring for the study of CBMs, providing some bases for the future academic development of CE thinking, which to date has been mostly influenced by non-academic stakeholders [ 102 ] and received little consideration by management scholars [ 94 ].…”

“…Currently, the CE field sits within stage one. Understanding of CE is multifaceted, lending itself to some conceptual ambiguities and, so, research that consolidates knowledge, identifies and builds a common theoretical background, is welcome [ 11 – 13 ]. When concepts are not defined clearly, effective communication, theory building and creativity are in an impasse, and this compromises the development of any field [ 14 , 15 ].…”