Circular Economy Analysis

The concept of Circular Economy is to an increasing extent treated as a solution to series of challenges such as waste generation, resource scarcity and sustaining economic benefits. Environment and economy are closely related…however all these economic textbooks pay really less attention to the environment and in the best case scenario, a chapter illustrating how the economic theory can be applied to diverse environmental issues is added to them.
Circular economy is touted as the practical solution to the circular economy is touted as a practical solution to the planet's emerging resource crunch. Reserves of key resources such as rare earth metals and minerals are diminishing, while exploration and material extraction costs are rising.
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India’s economic growth, combined with a pace of urbanization and population increase that’s above Asian’s average, is changing the consumption pattern of a wide range of resources, including materials, energy, land and water, on an unprecedented level. Substantial quantities of solid waste and waste waters are produced, air pollutants, greenhouse gas, contaminated water and water losses as well as inefficient land use are negative symptoms of the economic growth which threaten the prosperity and sustainable development in India- Dr. Dieter Mutz, Resource Politics,
In 2011, Veenhoven won with his palm leather slippers the encouragement of Materiaalprijs 2011 of DOEN Foundation . These slippers are made from the leaves of the Areca Palm. This sheet is strong and flexible. Veenhoven soaked the leaves in a mixture of organic materials, after which it is dried; after drying, the leaves remain supple and strong. Veenhoven presents the palm leather slippers as an alternative to leather or plastic slippers, with the palm leather slippers also purchased by poor people in Third World countries. Veenhoven brings his knowledge of the production over to India where he develops more products from palm leather for both the local and western