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The economics of the secondary ticketing market

What is a circular economy? Exploring key concepts and practices

With a fast-growing population and a continuous increase in the demand for food, goods and energy, the Earth’s resources are being consumed more quickly than they can be renewed. Luciano Batista looks at how the circularity principle might lead to more sustainable economies and societies

At the end of the eighteenth century, the French chemist and biologist Antoine de Lavoisier concluded from his many studies that ‘in nature, nothing is created, nothing is destroyed, but everything is transformed.’ This very important finding, which has become the classic Law of Conservation of Mass in modern chemistry, helped us to understand how nature works in terms of maintaining its resources.

Although de Lavoisier was not thinking about economies, the conservation principle of his classic law provides a fundamental inspiration to the circular economy ideal whereby materials in everything we produce are not discarded or wasted. Instead, they are reused or transformed for further use, in the form of either the same product or a different one, in many cycles of production and consumption.

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The economics of the secondary ticketing market

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