1.3.3 Why we need a circular economy (3/3)?
In the third video, Ken Webster explains how difficult it is for companies to be innovative in an economy where wages are dropping steadily. At the same time, we see large numbers of new customers entering the market, putting more pressure on a resource base that is already under pressure.
While watching the video, try to understand the arguments Ken makes. Do his arguments make sense to you? Why (not)?
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- Real wages have been stagnant or falling for several decades.
- This has resulted in intense competition among companies selling products and services, and in an unfavorable market position for environmentally or socially benign products (these often cost more).
- Three billion new customers entering the market in the next 20 to 30 years will put an enormous pressure on the resource base if we continue along our current, linear ways.
Circular Economy by TU Delft OpenCourseWare is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Based on a work at https://ocw.tudelft.nl/courses/circular-economy/.