this post was submitted on 16 Aug 2023
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United States | News & Politics

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East Cleveland Residents are Building a Closed Loop Economy (nextcity.org)
submitted 2 years ago by [email protected] to c/[email protected]
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[โ€“] [email protected] 3 points 2 years ago (1 children)

Based on what I dug into regarding the concept, a closed-loop economy focuses on three principles:

  1. Eliminate waste and pollution
  2. Circulate products and materials
  3. Regenerate nature

This being the case, I don't see exactly how taxes come into play in any detracting way. Plus it's pretty lightweight with financial requirements too. It's more of a modern day more aggressive recycling game plan for a community.

[โ€“] [email protected] 2 points 2 years ago

Circular economy is a better term.

Closed-loop economy would be more like all money used is also generated within the system. No money is added or subtracted from the community.

But whatever... I get what they're talking about.