Proceedings of the 5th International Conference on New Trends in Management, Business and Economics
Year: 2023
DOI:
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The Importance of Circular Economy the Practice of The Highly Developed World and The Caucasus in The Direction of Circular Economy
Temur Tutarashvili
ABSTRACT:
The paper discusses the history of the origin and development of the circular economy, understanding the concept from the perspective of different schools and scientists, its role in achieving sustainable development and solving global economic and social problems. The work discusses in detail the working mechanisms of the mentioned economic system. Emphasizes its importance in the growth of the gross domestic product and all the possible benefits it can bring to the world economy. Theories are supported by examples of developed countries and empirical reports. The present paper also shows the experience of the Caucasus countries, the normative documents and operational plans adopted by them, as well as the challenges and lapses that arise during the introduction of the circular economy.Finally, the paper provides recommendations for the Caucasus countries to make their circular economy more sophisticated.
keywords: History, Overview of the concept, The Reality of developed and developing Caucasus countries, Recommendations