This document provides an introduction to the environmental economics perspective on the circular economy. It discusses how the circular economy aims to minimize the use of virgin materials and waste by promoting recycling and reuse. However, a purely physical perspective does not consider the economic costs and benefits of recycling different material streams. Environmental economics can help identify which recycling options provide the greatest socioeconomic benefits by analyzing the full environmental consequences and internalizing external costs through policy tools like environmental taxes. While the circular economy aims to minimize resource depletion and waste, the laws of thermodynamics mean that recycling can only be pursued to a certain economically efficient point before becoming too difficult.

1.8 - An Introductory Note On The Environmental Economics of The Circular Economy PDF

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