• norsk
    • English
  • English 
    • norsk
    • English
  • Login
View Item 
  •   Home
  • Handelshøyskolen BI
  • Student papers
  • Master of Science
  • View Item
  •   Home
  • Handelshøyskolen BI
  • Student papers
  • Master of Science
  • View Item
JavaScript is disabled for your browser. Some features of this site may not work without it.

From Challenge to Balance: The Transition from Traditional to Sustainable Economics

Ivin, Alexander Siverts; Skogstad, Ole Petter
Master thesis
Thumbnail
View/Open
2940754 (1).pdf (3.509Mb)
URI
https://hdl.handle.net/11250/2826757
Date
2021
Metadata
Show full item record
Collections
  • Master of Science [1116]
Abstract
The subject of this master thesis is the concept of a circular economy as a

sustainable economic model, and how it fits traditional economics developed in

the 19th century. The subject is discussed with a nuanced and holistic approach

from an economics perspective, attempting to describe why a sustainable

economic model is necessary, and how a successful transition may find place. The

thesis is meant as a contribution to the existing research on the field.

The traditional linear economic model is still the dominating model today. It has

been the foundation for substantial wealth-creation over the last centuries,

however it seems to fail in incorporating environmental concerns. The thesis

explores how rethinking and reconstructing our economic models from the linear

approach to a circular economy can in fact maintain value creation and economic

growth, while minimizing the climate footprint left on our planet. The circular

economy bears the potential to increase the duration and quality of goods and

services produced as well as reduce residual waste, by incorporating the

environment and planetary boundaries as constraints. The earth is a closed loop

system with limited resources and resilience, and our economic models and

behavior should reflect this.

Google Scholar is utilized to establish a foundation of existing literature on

circular economy and supplements with relevant theory on welfare economics and

network effects. Economic theory dictates that scarce resources are to be utilized

at full capacity, maximizing the output from these scarce resources. However, the

established linear economic model proves the opposite. Resources are not utilized

to their full potential, accommodating for collective mass production and overconsumption.

The thesis proposes how identifying categorical barriers obstructing

the transition to a circular economy and strategically use the quantified barriers as

a tool in policy-setting, can in fact initiate a constructive transition toward a

circular economy. Theory on welfare economics and network effects are utilized

to illustrate how deflating the barriers through legislation can enable the market

forces to stabilize the market in a circular economy, by establishing strategic

incentives to induce the successful transition toward the sustainable economic

model – the circular economy.
Description
Masteroppgave(MSc) in Master of Science in Business, Economics - Handelshøyskolen BI, 2021
Publisher
Handelshøyskolen BI

Contact Us | Send Feedback

Privacy policy
DSpace software copyright © 2002-2019  DuraSpace

Service from  Unit
 

 

Browse

ArchiveCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsDocument TypesJournalsThis CollectionBy Issue DateAuthorsTitlesSubjectsDocument TypesJournals

My Account

Login

Statistics

View Usage Statistics

Contact Us | Send Feedback

Privacy policy
DSpace software copyright © 2002-2019  DuraSpace

Service from  Unit