Linear Economics Essay

740 Words2 Pages

Living in this age of technology driven communication, rapid data transfer, and development of new processes has its many advantages. Humans have been able to work harder, faster, and more efficiently because of how everything has advanced. While there are many reasons to be grateful for these changes, there are also some questions relating to the economic model that has been presented. By looking more closely at both linear and circular economics, one should be able to gain a better understanding of how they both function in the world today. Linear economics is the current model that many industries use in order to make revenue. At its core, the concept of linear economics is idealized in the fact that the earth has limited resources. The …show more content…

Interestingly enough, MacArthur came to the realization of how the circular model of economics could benefit the world after she broke the world record for circumnavigating the globe in a sailboat. As she said during a Technology Engineering and Design(TED) Talk, “I realized we 've been perfecting what 's effectively a linear economy for 150 years, where we take a material out of the ground, we make something out of it, and then ultimately that product gets thrown away, and yes, we do recycle some of it, but more an attempt to get out what we can at the end, not by design.” This circular economic model introduces an entirely different mindset than the world operates at currently, but could quite possibly revolutionize the way consumers and distributers function. Instead of consumers owning, say, a dishwasher, they might own a license to use the dishwasher. Then, when the company develops a new dishwasher, the out-dated unit would be recycled, and the new would be put in. In conclusion, after having examined the differences between the linear economy model and the circular economy model, one should have come to a better understanding of what they are. Linear economics relies purely on the supply for the production of the product. Circular economics is dependent on the recycling of the out-dated products to continue production. The question then becomes: how will society successfully make the transition without severe market

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