Current Issue
The end use of final product is often regarded as a waste but in today’s
economy, it is the use of unfettered input resources and maximum output in
countenance to throwaway output in which resources are tied and remain tied
as much as possible as part of the economy and this is dependent upon how the input and output are marketed in the process. Thisisfurther translated astheuse
of waste product in furtherance of wealth creation. Boulding (1996) muted the
idea of open economy which today is known as circular economy where
resource input can be fed back into production cycle whether biological or
technical. Hence, it is a retentive term associated with unlimited input
resources. The model is not only back-to-back, it is versatile which also hinges
on value of productsincluding productsafety, human and environmental health
safety in an orthodox economy, raw materials are transformed into products
after which the waste are disposed of. But in the bio gradable waste materials,
the waste is reused, for further generation of wealth from waste. Inversely they
are used as chemical substances to generate natural systems and produce
renewable energy. It is a back-to-back and a back-ward integration system.
