Circular Economy as an Answer to the Global Development Challenges

Brnjas Z1, Radović – Marković M.1, Golubović – Stojanović A.2
1 Full professor, Institute of Economic Science, Belgrade, (SERBIA)
2 Faculty of Business Economics and Entrepreneurship, Belgrade, (SERBIA)

Abstract

The Circular Economy is today one of the most important theoretical interdisciplinary concepts which is increasingly shaped into a coherent purposeful whole. The concept, as a “focal point,” draws attention and at the same time impact a whole range of theoretical, methodological and applicative disciplines, intellectual movements and practical techniques, developed over the past decades as an attempt to respond to some of the greatest global challenges of the modern world: devastation of natural resources, uncontrolled accumulation of discarded remnants of these resources after their exploitation and return to the system as (often very toxic) waste, disturbance of ecosystem balances and endangering the environment in the widest sense. The paper points to some of these concepts whose contributions in this domain have attracted the greatest attention of the scientific and professional public, such as “Cradle to Cradle”, Performance Economics (also known as Functional Service Economics), Biomimicry, Industrial Ecology, Natural Capitalism and Blue Economy.

Keywords: Circular Flow of Materials and Energy, Sustainable Development, Environment, Industrial and Social Systems, Zero Waste Models

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