THE CHANGING COMPETITION POLICIES IN TRANSITION TO CIRCULAR ECONOMY

II. International Congress on Finance, Economy, and Sustainable Policies, Bursa, Türkiye, 24 - 27 Nisan 2024, ss.62

Abstract

When considering the beginning from the Industrial Era, spanning approximately 300 years

during which the 'Linear Economy' prevailed, the concept of competition evolved and

developed continuously in both economic theory and practical applications at the level of

business, industry, or nation.

While the Circular Economy, accelerated by the transformation brought about by the climate

crisis, is increasingly becoming widespread conceptually, there are still many paths to be taken

in practice. In the environment of the Circular Economy, where the scope and severe

consequences of the climate crisis are constantly elevated, sectoral standards are still forming

and settling, and practices, policies, and legal regulations regulating economic activities are

still in transition, the issue of competition has also been subject to similar uncertainties.

The transition from a more 'growth'-oriented linear economic structure to a more

'environment'- focused circular economic structure will undoubtedly change the concept of

competition in all its dimensions. The circular economy, based on resource efficiency, material

retention and reuse, zero waste, and zero carbon emissions, will lead to different incentives,

dynamics, and business models than traditional linear economic systems. Therefore, the

compatibility of existing competition laws and policies with the new paradigm and the

regulations to be enacted will become important.