Dynamics of Economic and Environmental Returns of Implementing a Circular Economy Concept
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Abstract
A circular economy concept has been implemented in many countries to unbundle the environmental pressure from an economic growth. However, most research focuses on the environmental impact and resource scarcity dimensions of circular economy. Economic benefits were missing from the discussion. This paper used system dynamics approach to observe the pattern of economic returns from implementing a circular economy. The findings are the circular economy approach increase, instead of decrease, firms’ pollution emission. Firms’ will have lower retained earnings in a short run but it will be offset with higher retained earnings in a long run.
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