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Title Systemic Change: The Complexity of Business in a Circular Economy
ID_Doc 1604
Authors Wiesmeth, H
Title Systemic Change: The Complexity of Business in a Circular Economy
Year 2020
Published Foresight And Sti Governance, 14, 4
DOI 10.17323/2500-2597.2020.4.47.60
Abstract The transition to a circular economy is often associated with appropriate business models, which should, among other things, help to replace the conventional 'end-of-life ' concept regarding commodities with restoration and environmental design. This systemic change appears to be closely linked to the waste hierarchy: prevention of waste, reuse of old commodities and recycling of waste. The paper shows that there are various problems for businesses to maintain the waste hierarchy in the context of a circular economy. The intrinsic nature of environmental commodities and, in particular, societal path dependencies present some challenges. These societal path dependencies are related to the benefits of decentralized decision-making in a market economy. In the short term, appropriate environmental policies can help alleviate some of these problems, but in the long term, these societal path dependencies need to be reoriented. The paper contains practical examples of all the issues raised.
Author Keywords circular economy; technological innovation; waste hierarchy; societal path dependencies; decentralized decision-making; new business models
Index Keywords Index Keywords
Document Type Other
Open Access Open Access
Source Emerging Sources Citation Index (ESCI)
EID WOS:000599920700005
WoS Category Economics; Management
Research Area Business & Economics
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