Environmental economics of the circular economy

The concept of a circular economy, introduced by the late David Pearce in 1990, addresses the interlinkages of the four economic functions of the environment. The environment not only provides amenity values, in addition to being a resource base and a sink for economic activities, it is also a fundamental life-support system. Environmental economists have suggested that, taking these four functions as an analytical starting point, unpriced or underpriced services should be internalised in the economy. Source: SpringerLink - Journal Article