Re-reading Steady-state Economy: Calm Thinking on Hot Circular Economy

Abstract

Steady-state economics claims that a low circulation rate of the natural system and social-economic system is necessary for us, whose aim is to keep the balance between substance and energy, namely, sustainable development. Due to its intrinsic tendency of anti-consumptionism and anti-technical omnipotence, steady-state economic theory has never been the mainstream. However, in the process of promoting circular economy in China, it is urgent to reappraise and re-study the steady-state economics. For China, which is not rich in natural and environmental resources, not only the material recovery, but also the cost of energy and low-entropy material should be taken into consideration in the process of developing circular economy.