Please use this identifier to cite or link to this item: http://hdl.handle.net/10995/103094
Title: Systemic change: The complexity of business in a circular economy
Authors: Wiesmeth, H.
Issue Date: 2020
Publisher: National Research University, Higher School of Econoimics
Citation: Wiesmeth H. Systemic change: The complexity of business in a circular economy / H. Wiesmeth. — DOI 10.17323/2500-2597.2020.4.47.60 // Foresight and STI Governance. — 2020. — Vol. 14. — Iss. 4. — P. 47-60.
Abstract: 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. © 2020, National Research University, Higher School of Econoimics. All rights reserved.
Keywords: CIRCULAR ECONOMY
DECENTRALIZED DECISION-MAKING
NEW BUSINESS MODELS
SOCIETAL PATH DEPENDENCIES
TECHNOLOGICAL INNOVATION
WASTE HIERARCHY
URI: http://hdl.handle.net/10995/103094
Access: info:eu-repo/semantics/openAccess
SCOPUS ID: 85100700858
PURE ID: 20423726
ISSN: 25002597
DOI: 10.17323/2500-2597.2020.4.47.60
metadata.dc.description.sponsorship: The work was supported by Act 211 Government of the Russian Federation, contract № 02.A03.21.0006.
Appears in Collections:Научные публикации, проиндексированные в SCOPUS и WoS CC

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