A circular economy is better compared to a linear economy in terms of the way resources are used. In a linear economy, we make products from resources, use the products and then dispose of the products. Whereas in a circular economy the resources are kept in use for a long period of time. The products are made, used and recycled again for further use so as to get the most out of the available resource in its service life.
The basic circular economy can be seen as manufacturer > retailer > household use > repair/recycle > manufacture. So, the maximum use of the resource is possible by not disposing of the product. The idea of a circular economy put in front of us a question of whether it is possible to make an economy that can be sustained with such restorative designs.
The circular economy is not just a thing and cannot be perceived as a single human being. The circular economy demands the participation of society as a whole. It changes the behaviour of people when using and throwing away products. It is a paradigm shift in how people are looking at recycled products. In recent years has become a global phenomenon. If the circular economy is maintained properly, it will benefit the the daily life of the people in a great way – both socially and economically.
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The circular economy is another way of reducing our carbon footprints, a long-term effect should be a reduction in the need for materials and therefore a positive impact on climate change phenomenon. People involved in agriculture will benefit greatly from it. As a whole, it will bring a systematic change in people’s lifestyle. The economic change will be in terms of creating more jobs as there will be an urge to create new ways to recycle products, more innovative ideas will come up. Some of which will turn into successful businesses where new products can be created from recycled products.
Our generation is already struggling with our reliance on fossil fuels and the future generation will be in deep trouble if we don’t take action now.
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Smart cities have the opportunity to embrace the circular economy in order to improve health and quality of life. One simple form of a circular economy in a smart city is to create electricity from household and business waste. Such regenerative methods will greatly help big cities to survive in future. Cities in Europe are looking for high-efficiency water treatment plants, where the city wastewater will be treated and can be used again as fresh water. Although some systems are already present, people are still working to make such systems more efficient. The Internet and smartphones will be of great use while the transition to a circular economy.
The transition from a linear economy to circular may be challenging, but it will give the best outcome when smart cities are combined with a change in mentality and mindset.