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THE CIRCULAR ECONOMY THE CIRCULAR ECONOMYName:Institution:Date:
Concepts of circular economyThe circular economy is a term used in the industrial economy world that involves using available resources, extracting the maximum from them while still in usage and then regenerate the products at the end of the production process. It is an alternative to a traditional linear economy where cases of pollution and decline of resources were rampant. However, with the modern circular economy environmental issues, like pollution have been minimized in past twenty-one years. Currently, there is an argument that it will dominate due to its increased credibility in waste and pollution management. The circular economy was first worked on in the 1970s were some academic scholars, and business entrepreneurs tried to convince the world that it was a way of preserving and conservingnaturals resources (MacArthur, E., 2013.). For example, Walter Stahel in sighted that linear economy was not sustainable and argued that with the increased use of natural resources, it would result in the biggest problems like wastage and pollution of the environment. The above mention persons view circular economy on two concepts perspective; the natural cycle and technical cycle.The concept of bio-cycle stipulates that resources be regenerated from life processes with or withno human interference most commonly from agriculture and mining. In this process, the materials are disordered. In the technical cycle, these natural resources are recovered and reordered with human intervention and reduce the need for virgin materials in the industrial systems. This forms the base of the circular economy, which works under the following principles; conserve and balancing renewable resources, optimize resources use in both bio-cycleor technical cycle and recycling or designing natural resources for reuse. (MacArthur, E., 2013.)
Characteristics of circular economyThe circular economy can be described by the following characteristics: Reduced emissions- Emissions produced in the industrial system can be reduced by using less raw materials and clean products. This will also reduce pollution of the environment.Low wastage of resources- There is less buildup of wastes from industrial systems as most natural resources undergo the technical cycle. The landfill is minimized, and valuable resources like oil have been conserved thus reduced depletion rate. Maintaining the value of materials in the economy is another characteristic of a circular economywhere lifetimes of these valuable resources extended. Reuse of these components also supports and preserves the value of materials. The circular economy has encouraged less use of natural resources. It has reduced significance dependence on such resources by efficient use of all available resources thus preservation of considerable amount of naturals resources. (MacArthur, E., 2013.)Through technical cycle, there is increased use of recyclable and renewable resources which has