Nate Hagens defines a circular economy as an economy that is restorative and regenerative by design, minimizing waste and pollution while promoting shared prosperity for all stakeholders. Such a system seeks to keep resources in circulation for as long as possible, resulting in an extended life cycle of materials and enhanced value through product-service systems and localized closed-loop production. It enables an economy where the relationship to resources is one of durability and re-use, reducing the need for new resources and energy inputs.

See also: ecological economics, renewable energy, design principles, economic system, ecological footprint