The circular economy, a concept that promotes sharing, reusing, repairing, and recycling existing materials, has long been the domain of engineers, architects, and sociologists. However, the question now is whether economists have a role to play in advancing our understanding of this economic model where waste is minimized. Don Fullerton from the University of Illinois joins EconoFact Chats to delve into these issues and more.
With a wealth of experience under his belt, Don Fullerton brings unique insights into how economics can contribute to shaping an economy that is sustainable and resource-efficient. He has served as the lead author for an assessment report by the UN’s Intergovernmental Panel on Climate Change and has worked as the director of the National Bureau of Economic Research’s Environmental Program. This background gives him a perspective on how economists can offer valuable perspectives on how to move towards a more sustainable and efficient economy.
The discussion likely involves exploring the opportunities and challenges associated with transitioning towards a circular economy. Don Fullerton may touch upon how economic incentives and policies can be designed to promote behaviors that align with the principles of the circular economy. By considering the economic implications of waste reduction, resource conservation, and sustainable production and consumption practices, economists can provide valuable insights on how to create a more sustainable future for all.
Overall, this episode promises to be an enlightening conversation that sheds light on how economists can contribute to advancing the goals of a circular economy. By bringing together expertise from various fields, including economics, engineering, and sociology, this episode has the potential to provide new insights and solutions for creating a more sustainable and resilient economy for generations to come.
