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The concept of a circular economy cannot be traced back to one single date or author, rather to different schools of thought. [37] The concept of a circular economy can be linked to various schools of thought, including industrial ecology, biomimicry, and cradle-to-cradle design principles. Industrial ecology is the study of material and energy ...
The circular flow of income is a concept for better understanding of the economy as a whole and for example the National Income and Product Accounts (NIPAs). In its most basic form it considers a simple economy consisting solely of businesses and individuals, and can be represented in a so-called "circular flow diagram."
The C2C concept foresees its own certification of its analysis [33] and therefore is in contradiction to international publishing standards (ISO 14040 [34] and ISO 14044 [35]) for life-cycle assessment whereas an independent external review is needed in order to obtain comparative and resilient results.
This chapter contrasts the standard neoliberal agenda staged by Samuelson's circular flow diagram and scripted by the Mont Pelerin Society of Friedman, Hayek et al., with the Embedded Economy which sets the economy within society and the living world. It points out that the economy's fundamental resource flow is not a roundabout of money, but a ...
This way of thinking is expressed in the concept of circular economy, which employs reuse, sharing, repair, refurbishment, remanufacturing and recycling to create a closed-loop system, minimizing the use of resource inputs and the creation of waste, pollution and carbon emissions. [48]
The Circular Economy Development Strategies Action Plan was created on January 23, 2013, and it further embedded the idea of a circular economy into Chinese legislation. [6] The plan outlined three levels of circular economies in China, being within a company, industrial park and city or region. [6]
This concept of dépense, as developed by Georges Bataille, offers a novel perspective on the management of surplus energy within economies. This concept encourages a shift from growth-centric models to approaches that prioritise sustainable and meaningful expenditures of excess resources .
Real-time economy concept has all the necessary components to facilitate full realization of circular economy. Similarly to track-and-trace technology known from logistics (as well as drug distribution and tobacco products tracking) a like solution could be created for any product released on the market. It would be theoretically possible to ...