“GREEN” AND “CIRCULAR” ECONOMY: ESSENCE AND MODERN CHALLENGES
“GREEN” AND “CIRCULAR” ECONOMY: ESSENCE AND MODERN CHALLENGES

Summary/Abstract: This work presents a study of the essence of the “green” economy and its importance for improving the well-being of people, its features in contrast to the traditional or “yellow” economy, investigated its relevance to the innovation economy, to the sustainable economic development, to the economic development, and to the economic growth. It’s investigated the current level of development of the green economy in Georgia and its prospects. The vast majority of modern economies are characterized by the waste of natural resources, the economic value of resources is not maximally used. Such an economy, that is based on the growth of profit, on the maximum satisfaction of today's demands is called a straightforward economy. The linear (straightforward) economies have limited resources that are not effectively used and a large number of waste has a negative impact on the environment. The “circular” economy is the opposite of the linear economy, which is focused on the maximum utilization of the economic value of the natural resources and minimizes pollution of the environment.

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