A circular economy is one which conserves inputs. Waste is minimized and resources are reused rather than being treated as waste after their initial use. The term is used to explain what is necessary to create a sustainable society - i.e. a redesign of how society and business operate.
The current economy is a linear system: resources are taken out of the ground, made into something and later thrown away. Only with a circular economy is sustainability possible.
Notes and references
- Circular economy conserves inputs - The Science Show, ABC Radio National (Australian Broadcasting Corporation), 24 September 2011.