The circular economy is a generic term for an industrial economy that is producing no waste and pollution, by design or intention, and in which material flows are of two types, biological nutrients, designed to reenter the biosphere safely, and technical nutrients, which are designed to circulate at high quality in the production system without entering the biosphere as well as being restorative and regenerative by design.
Instead of the linear-type economic system now in use, which is basically "take, make, waste" model, a circular economy has much different principles:
- Rather than simply "taking" from our natural resources we can make sure to conserve and regenerate the earth's limited resources.
- Instead of "making" it is possible to reuse or repurpose what we already have produced.
- No more "wasting" what is right in front of us by simply throwing it away and immediately buying a new replacement. The item can be fixed, it's parts refurbished for other uses, or simply given to those without. This reduces waste, pollution, and environmental harm.