Reconsidering “circular economy” in terms of irreversible evolution of economic activity and interplay between technosphere and biosphere

© 2019, Institute for Economic Forecasting. All rights reserved. The notion of circular economy has attracted increased attention in recent years. A set of common denominators of circular economy is identified. Then, four questions are raised to show that the ideas of a circular economy cannot be untenable: (i) is there any fundamental difference between the framework of circular economy and the neoclassical standard economics?; (ii) the efficiency improvement of energy and material use is achievable within the framework of circular economy proposal?; (iii) can the harmonious interplay between Technosphere and Biosphere be maintained?; and (iv) is there any serious consideration of “water fund” management within the framework of circular economy?.