Technologies and the Circular Economy

Abstract

The word economy comes from the Greek “oikonomos,” meaning “household management”: Oikos means home and nemein, means administration. Hence, economics is concerned with how available resources are managed to produce a variety of goods and distribute them for consumption among the members of a society. In the opinion of Gregory Mankiw one of the principles of economics that have to do with “People face trade-offs,” is important for modern society, since currently, companies face the dilemma between a clean environment and a high level of income, Mankiw believes, faced with this dilemma.