IDEAS home Printed from https://ideas.repec.org/a/vrs/poicbe/v18y2024i1p798-810n1016.html
   My bibliography  Save this article

Challenges of the Circular Economy: Inequality and Economic Behavior

Author

Listed:
  • Dumitrescu-Popa Ioana-Silvia

    (Bucharest University of Economic Studies, Bucharest, Romania)

  • Chita Elena-Iulia

    (Bucharest University of Economic Studies, Bucharest, Romania)

  • Craciun Maria Alexandra

    (Bucharest University of Economic Studies, Bucharest, Romania)

  • Panait Mihnea

    (The Bucharest University of Economic Studies, Bucharest, Romania)

Abstract

The move towards a circular economy is a challenging journey. It has gained a lot of recognition in recent years as a sustainable alternative to traditional production and manufacturing of goods, mainly due to its potential for minimisation of waste and promotion of resource efficiency through reusability and recycling. Nevertheless, this transition it’s also met with sufficient challenges that are linked with inequality in society as well as consumer behavior. Although the circular economy model is based on the principle of extending reusability of products and materials, its implementation is often difficult in practice. In low-income communities, in particular, the access to sustainable materials or practices is proven to be difficult and it’s often linked with disparities in resource distribution. As well as inequality, consumer behavior also plays a major role in the success of implementing sustainable initiatives which are supporting the transition to a circular economy. Behavior is shaped by choices, cultural norms, economic incentives and individual preferences, which have a significant influence on how sustainable consumers are or have the potential of being. This article considers inequality and consumer behavior and underscores some of the challenges to fully transition to a circular economy. This study also seeks to identify the barriers to transition to circular economy practices and opportunities to overcome them. Through developing inclusive policies, promoting sustainable consumption, and empowering stakeholders across society, we can navigate towards a more equitable and resilient future.

Suggested Citation

  • Dumitrescu-Popa Ioana-Silvia & Chita Elena-Iulia & Craciun Maria Alexandra & Panait Mihnea, 2024. "Challenges of the Circular Economy: Inequality and Economic Behavior," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 18(1), pages 798-810.
  • Handle: RePEc:vrs:poicbe:v:18:y:2024:i:1:p:798-810:n:1016
    DOI: 10.2478/picbe-2024-0070
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/picbe-2024-0070
    Download Restriction: no

    File URL: https://libkey.io/10.2478/picbe-2024-0070?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:poicbe:v:18:y:2024:i:1:p:798-810:n:1016. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.