Systemic Change: The Complexity of Business in a Circular Economy
The transition to a circular economy is often associated with appropriate business models, which should, among other things, help replace the conventional `end-of-life? concept regarding commodities with restoration and environmental design. This systemic change appears to be closely linked to the...
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| Format: | Article |
| Language: | English |
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National Research University Higher School of Economics
2020-12-01
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| Series: | Foresight and STI Governance |
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| Online Access: | https://foresight-journal.hse.ru/article/view/19151 |
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| author | Hans Wiesmeth |
| author_facet | Hans Wiesmeth |
| author_sort | Hans Wiesmeth |
| collection | DOAJ |
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The transition to a circular economy is often associated with appropriate business models, which should, among other things, help 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 issues raised.
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| format | Article |
| id | doaj-art-dbc62ef195de4c45b275d67113083201 |
| institution | DOAJ |
| issn | 2500-2597 |
| language | English |
| publishDate | 2020-12-01 |
| publisher | National Research University Higher School of Economics |
| record_format | Article |
| series | Foresight and STI Governance |
| spelling | doaj-art-dbc62ef195de4c45b275d671130832012025-08-20T03:17:02ZengNational Research University Higher School of EconomicsForesight and STI Governance2500-25972020-12-0114410.17323/2500-2597.2020.4.47.60Systemic Change: The Complexity of Business in a Circular EconomyHans Wiesmeth0Saxon Academy of Sciences and Humanities , Karl-Tauchnitz-Str. 1, 04107 Leipzig, Germany; Graduate School of Economics and Management, Ural Federal University, 19 Mira Street, Yekaterinburg, 620002, Russian Federation; Dresden Technical University, 01062 Dresden, Germany The transition to a circular economy is often associated with appropriate business models, which should, among other things, help 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 issues raised. https://foresight-journal.hse.ru/article/view/19151circular economytechnological innovationwaste hierarchysocietal path dependenciesdecentralized decision-makingnew business models |
| spellingShingle | Hans Wiesmeth Systemic Change: The Complexity of Business in a Circular Economy Foresight and STI Governance circular economy technological innovation waste hierarchy societal path dependencies decentralized decision-making new business models |
| title | Systemic Change: The Complexity of Business in a Circular Economy |
| title_full | Systemic Change: The Complexity of Business in a Circular Economy |
| title_fullStr | Systemic Change: The Complexity of Business in a Circular Economy |
| title_full_unstemmed | Systemic Change: The Complexity of Business in a Circular Economy |
| title_short | Systemic Change: The Complexity of Business in a Circular Economy |
| title_sort | systemic change the complexity of business in a circular economy |
| topic | circular economy technological innovation waste hierarchy societal path dependencies decentralized decision-making new business models |
| url | https://foresight-journal.hse.ru/article/view/19151 |
| work_keys_str_mv | AT hanswiesmeth systemicchangethecomplexityofbusinessinacirculareconomy |