A circular economy has profound consequences for production, employment, education, money and finance but also induces a shift in public policy and taxation. The economic advantage of this model lies in designing out waste, enabling access over ownership, favouring radical resources productivity, with prospect of rebuilding natural capital and resilience.
Since the first edition of this volume published in 2015, the global economy has remained relatively subdued and pressure on resources, especially in terms of waste and carbon emissions, continues. More than ever, the circular economy gives the direction of travel, and appears as a model for economic prosperity.
This revised volume contains one entirely new chapter, expanding on the role of digital; on how we see the world; how the economy really works and how we can act within it. The other major revision is in rewriting the final chapter, as it becomes obvious, argues the author, that current social tensions and the rise of populism mean that the evolution of an attractive economic model is no longer just a desirable development, but a matter of some urgency.
The foreword is written by Ellen MacArthur and the book includes contributions from Walter Stahel from the Product-Life Institute, Geneva and Jocelyn Blériot, Executive Officer at the Ellen MacArthur Foundation.
"A Wealth of Flows is a huge addition helping to make circular economy a reality. The book creates a clear and vivid overview of how a circular economy can look like and what kind of changes we have to make. This way, more and more people understand what it exactly means in practice, and how brilliant our future can be."--Prof. Dr. Michael Braungart, founder and CEO of EPEA Internationale Umweltforschung GmbH. "Ken Webster has provided a compelling overview of one of the big ideas - and imperatives - of our time: how to convert our linear economy, that excels in making waste out of natural resources, into a circular economy that cycles and recycles resources to the benefit of humans and the environment. This book needs to be very widely read."--Paul Ekins, Pr. of Resources and Environmental Policy and Director of the UCL Institute for Sustainable Resources. "Ken Webster shows us how the circular economy moves us beyond our current world of limits based on 'less is more' and shows us a world of recurrent abundance based on 'endless is more'. The circular economy is rich with growth opportunities for all generations; it is going to take us all, and it is going to take forever... and that is the point."--Bill McDonough, founding principal of William McDonough & Partners, co-founder of McDonough Braungart Design Chemistry (MBDC). "Ken Webster's book is more than a message of hope for a better path forward. It is a vivid and colorful illustration of how the circular economy is growing to challenge and ultimately replace the polluting and wasteful manufacturing industries of past centuries."--Wendy Schmidt, Founder of The Schmidt Family Foundation, The Schmidt Ocean Institute "Ken Webster offers a comprehensive solutions set to today's economic and environmental challenges. The Circular Economy: A Wealth of Flows provides inspiration, and details a future state for our economy that is balanced, restorative and beneficial - for all."--Marty Neese, Chief Operating Officer of SunPower "Thorough, yet lively and often intriguing, Webster's book gives the interested reader an in-depth understanding of the key concepts behind the circular economy, backed with a multitude of real-world case histories, relevant quotes and extracts, and examples that demonstrate why the CE should be the wave of the future. This book is a terrific resource and and highly recommended to anyone interested in circular economy and resource efficiency."--Nabil Nasr, Ph.D. Associate Provost for Academic Affairs & Director, Golisano Institute for Sustainability, Rochester Institute of Technology
