Within the concept of Circular Economy there is one word consistent with any literature on the subject of Economy. In WIKIPEDIA we can find the following definition for ECONOMY and CIRCULAR ECONOMY:
An economy or economic system consists of the production, distribution or trade, and consumption of limited goods and services by different agents in a given geographical location. The economic agents can be individuals, businesses, organizations, or governments. Transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. In the past, economic activity was bounded by natural resources, labour, and capital. This view ignores the value of technology (automation, accelerator of process, reduction of cost functions), and innovation (new products, services, processes, new markets, expands markets, diversification of markets, niche markets, increases revenue functions), especially that which produces intellectual property.
A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
A market-based economy is where goods and services are produced without obstruction or interference, and exchanged according to demand and supply between participants (economic agents) by barter or a medium of exchange with a credit or debit value accepted within the network, such as a unit of currency and at some free market or market clearing price. Capital and labour can move freely to any area of emerging shortage, signalled by rising price, and thus dynamically and automatically relieve any such threat. Market based economies require transparency on information, such as true prices, to work, and may include various kinds of immaterial production, such as affective labour that describes work carried out that is intended to produce or modify emotional experiences in people, but does not have a tangible, physical product as a result.
A command-based economy is where a central political agent commands what is produced and how it is sold and distributed. Shortages are common problems with a command-based economy, as there is no mechanism to manage the information (prices) about the systems natural supply and demand dynamics.
A green economy is low-carbon, resource efficient, and socially inclusive.
In a green economy, growth in income, and employment are driven by public and private investments that reduce carbon emissions and pollution, enhance energy and resource efficiency, and prevent the loss of biodiversity and ecosystem services.
The circular economy is a generic term for an industrial economy that is, by design or intention, restorative and in which material flows are of two types, biological nutrients, designed to re-enter the biosphere safely, and technical nutrients, which are designed to circulate at high quality without entering the biosphere.
Key and critical in all of this is, that mankind need to be more receptive to the idea that resources are only limited available on our planet “Earth” and it is our obligation to protect this planet for depleting natural resources!
Therefore the Circular Economy departs from the subject that all products for our consumption (in its broadest sense) need to be designed in such a way that the circle can be closed to avoid as much as possible waste and to circulate without a big degree of loss in its physical properties. The definition defines two major streams: Biological materials and Technical materials
The workshop that OZO concepts promotes on this subject, will focus on both private households as well as industrial enterprises that can learn from each other to implement processes to contribute towards circularity.Back to overview
Within the concept of Circular Economy there is one word consistent with any literature on the subject of Economy. In WIKIPEDIA we can find the following definition for ECONOMY and CIRCULAR ECONOMY.Read more >