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Eco-Innovation and Circular Economy Paradigm
Abstract
The linear economy, known as buy-build-consume-dispose, which has been the dominant economic model since the Industrial Revolution, has started to push ecological limits by leading to the rapid depletion of resources, waste and wastage all over the world. Therefore, it has become inevitable to harmonize economic actions with the environment, to prevent waste and to transform society into a conscious production/consumption process. This means implementing a radical change. In this sense, the circular economy is considered as an alternative to the linear economic model and emerges as an economic system innovation. However, the transformation from a linear economy to a circular economy requires a very difficult process. First of all, innovation in technological infrastructure should be ensured. In this context, eco-innovation activities are likely to accelerate the formation by creating an application area for the circular economy. The study that offers a theoretical perspective from the point of view of revealing the need to change the linear economic system and has divulged the need for eco-innovation, which is at the centre of the circular economy and deals with the conceptual connection between the circular economy and eco-innovation. In this context, after examining the concepts of eco-innovation and circular economy, the study contributed to the literature by scanning the discussions on decoupling, central role, synergy between the two conceptions and concluded by revealing the catalytic role of eco-innovation practices. It has foreseen that the eco-innovation studies required to realize a circular economy will require many new legal, political, financial, and taxational applications and infrastructure services. For this reason, these areas may be reviewed in future studies.
Keywords
Supporting Institution
Yok
Project Number
Yok
References
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Details
Primary Language
Turkish
Subjects
Macroeconomics (Other)
Journal Section
Research Article
Publication Date
December 29, 2023
Submission Date
August 21, 2023
Acceptance Date
December 3, 2023
Published in Issue
Year 1970 Volume: 15 Number: 4