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Circular Economy Business Models: A Critical Examination

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  • Charles J. Whalen
  • Katherine A. Whalen

Abstract

In recent decades, increasing numbers of scholars and practitioners have rejected the conventional, “linear” view of economic activity (centered on “take, make, and dispose”) in favor of a “circular economy” perspective, which emphasizes the need for humans to live in harmony with Earth’s ecological system. As a consequence, various contemporary business models claim to draw inspiration from this new perspective. However, our critical examination reveals that many of these models say little about—and, on their own, may contribute little to achieving—ecological sustainability. We conclude by stressing the need for public policies that enable society to pursue what institutionalists call “higher efficiency.”

Suggested Citation

  • Charles J. Whalen & Katherine A. Whalen, 2020. "Circular Economy Business Models: A Critical Examination," Journal of Economic Issues, Taylor & Francis Journals, vol. 54(3), pages 628-643, July.
    • Handle: RePEc:mes:jeciss:v:54:y:2020:i:3:p:628-643
    DOI: 10.1080/00213624.2020.1778404
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    Cited by:

    1. Kerem Toker & Ali Görener, 2023. "Evaluation of circular economy business models for SMEs using spherical fuzzy TOPSIS: an application from a developing countries’ perspective," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(2), pages 1700-1741, February.
    2. Ornella Benedettini, 2022. "Green Servitization in the Single-Use Medical Device Industry: How Device OEMs Create Supply Chain Circularity through Reprocessing," Sustainability, MDPI, vol. 14(19), pages 1-21, October.
    3. Francesca Gambarotto & Marco Rangone & Stefano Solari, 2023. "Moral and Institutional Foundations of Sustainable Technological Entrepreneurship," Sustainability, MDPI, vol. 15(18), pages 1-12, September.
    4. Thomas Nyström & Katherine A. Whalen & Derek Diener & Marcel den Hollander & Robert H. W. Boyer, 2021. "Managing Circular Business Model Uncertainties with Future Adaptive Design," Sustainability, MDPI, vol. 13(18), pages 1-18, September.

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