Circular Economy – How Viable is this Model in a Market Economy

Abstract:

Definition for circular economy according to the document of the European Parliament from 2023 06 01: It is a production and consumption model that involves sharing, renting, reusing, repairing, renovating and recycling existing products as long as possible The circular economy is an economic model focused on reducing waste, reusing resources and recycling materials to create a sustainable and efficient system. In contrast to the traditional linear economy, which is based on the "extract-factory-discard" model, the circular economy aims to close the life cycle of products.