The Circular Economy

Don Fullerton (dfullert@illinois.edu)

No 32419, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Research about the circular economy is dominated by engineers, architects, and social scientists in fields other than economics. The concepts they study can be useful in economic models of policies – to reduce virgin materials extraction, to encourage green design, and to make better use of products in ways that reduce waste. This essay attempts to discuss circular economy in economists’ language about market failures, distributional equity, and policies that can raise economic welfare by making the appropriate tradeoffs between fixing those market failures and achieving other social goals.

JEL-codes: H23 Q38 Q52 Q53 (search for similar items in EconPapers)
Date: 2024-05
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Working Paper: The Circular Economy (2024)
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