The European Economy: From a Linear to a Circular Economy

Abstract

For quite some time a profound preoccupation for many economists, politicians, environmentalists, sociologists or philosophers looking towards the coming decades consisted in searching for a new paradigm of development and growth that is feasible within the given limits of planet Earth. There are already widely accepted concepts like “sustainable development” or “low-carbon economy” that seem right but not enough. Such concepts seem to address the effects and not the causes. In this paper we analyze a broader approach that places human activity into a long term historical perspective, namely the circular economy. This new development paradigm, supported by the European Union, is, in fact, an “old” one moved upwards on a dialectical spiral so that it connects and resonates with the spirit and realities of our times. The conclusions reflect optimism concerning the success in large scale implementation of the circular economy concept in the European Union and worldwide and thus in taking advantage of opportunities rather than wasting resources by opposing the ineluctable changes.

Keywords: development paradigm, linear economy, circular economy, European economy, spirit of our times

JEL Classification: A13, B15, B25, F63, O33, O44