With the ever growing population size and rise in technological advancements, unsustainable production of products was almost inevitable. The growing world population and finite natural resources make the current linear economic model an unsustainable one. In a traditional linear economy, products are made, used and thrown away. In a circular economy, the linear model that promotes short-term consumption is replaced with one that encourages the reuse and recycling of resources. This model is based on the cyclical patterns in nature where materials are continually reused and recycled with minimum impact on the environment.  

As we transition from a linear to a circular economy the impact on economic growth of many industries, countries, and manufacturers is questioned. A circular economy discourages the  over-consumption and promotes recycling goods. Over-consumption helps boost industries: when the demand is great, companies produce more, sell more, generate more profit and hire more people. As we switch to a low consumption economy, the impacts on jobs, economic growth and profit margins are severe. A linear economy uses a large amount of raw materials to make products and thus provides millions with jobs. Raw materials are mined, extracted and grown, generating employment at the primary level. Next these products have to be sold, advertised and accounted for which leads to tertiary level jobs for millions.  

On the other hand, whilst we look at the economic advantages of the linear model we can also recognize the benefits of the circular model. For instance the latter model requires the use of fewer resources and less production, which ensures that firms have to invest in less land, labor and capital but still sell products that can generate profit each time they are rented or upgraded. A principle of the circular economy is reusing raw material, which helps to cut costs for manufacturers and ultimately makes goods cheaper for consumers. Manufacturers can provide upgrades or maintenance services on products that can no longer be used, which can lead to them earning each time the product is taken in to be maintained, as well as provide an alternative pathway for consumers who can't afford to buy entirely new products. 

Moreover, from a sustainability point of view, this model reduces demand for raw materials, relaxing the pressure on natural resources, promoting the use of available resources in a way that they can meet the needs for generations to come. Principles of the circular economy model promote a closed loop system where materials are continuously cycled back into the production process, reducing wastage and encouraging recycling. For example recycling plastic reduces the need for new plastic production in firms lowering the potential environmental costs of this type of production. 

Additionally, as we look at the social impacts of this model we see great things. For an individual it makes sense economically to upgrade a phone by replacing outdated components rather than buying an entire new phone. This ensures that individuals don't feel overburdened by the need to buy a lot of products with limited  economic resources. The reduced impacts on the environment are good for both an individual and a society. If we use our resources effectively and with the principles of this model, then less waste is created, decreasing landfills  and carbon dioxide emissions which leads to a reduction in the average global temperature. More land is available for wildlife and natural landscapes, which helps boost social life. 

As our wants outweigh the resources we have, the need for a more sustainable production model is crucial. While we will face drawbacks such as fewer jobs without the introduction of this model, our finite resources are bound to run out if we continue to actively take part in over consumption. For that reason the introduction of a circular model is crucial and it is something manufacturers, recycling companies and consumers all have to work for together. In this way we can create a brighter sustainable future for all of us.