Circular economy as a global imperative

Abstract

The idea of the circular economy is conceptualized as the basic transformative, integrative philosophy, which is the basis of ecological and economic policy of public-private partnership. It is found that the intensification of competition for resources leads to increased waste production and pollution, which led to the formation of an economic system. Its components are renewable energy sources, increased production of waste from production waste, minimization of food waste and improving the quality of life of all segments of society. All successful micro-industries have been found to be the product of successful business start-ups. The author identified the key factors of the circular economy: the potential of the Fourth Industrial Revolution; circular value chains based on recycled waste; leaders in the circular economy; cooperation. The analysis of the circular business model made it possible to prove that it can include one or a set of the following elements: circular design, optimal use, value recovery, network (chain) organization. Those ones represent the circular economy as a global imperative of the formation and development of its architecture.