What Does "Circular Economy" Mean?

More than ever, we’re hearing about efforts to be more environmentally friendly. We’re all trying to do our part in helping keep the world a bit greener. That’s why Frank is focused on refurbished phones, which help reduce the impact of each device on the environment. In fact, purchasing a refurbished phone cuts the environmental impact of the device in half. This system of reusing, sharing, and refurbishing is referred to as the “circular economy” or a circular system. 

Most of us are used to a linear economy, which is where raw materials are extracted, processed into a product, and then that product is thrown in the trash when you’re done with it. It’s a straight line (hence linear) and starts over every time a new product is made. 

A circular economy increases the value of those starting raw materials, because they’re used over and over until they actually don’t work or have value. Even when the product is worn out, it gets recycled and turned into something else. The basic aim of the circular economy is to eliminate waste and improve natural systems. 

There are a lot of benefits to a circular economy other than the obvious, which is less waste in the world and you saving money by purchasing refurbished products. 

Protecting Ecosystems

The less we have to mine for raw materials, the more ecosystems can thrive in their natural states. When we don’t destroy nature to make new products, we’re helping preserve our planet for generations to come. 

Less Pollution

The pollution caused by the mining of raw materials and creation of new products dwindles when we employ a circular economy. Ultimately, less pollution can lead to better environmental conditions and our overall health. 

Job Creation

Yes, really! As we create new production streamlines and industries that focus on refurbishing items, we’re creating jobs for people. Most of these jobs end up being local too, since the items are coming from within the area rather than being outsourced. 

There are many, many perks to the circular economy, both for you as a consumer and the world as a whole. With refurbished products, you can feel good about saving money (and the planet!)

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