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ADEVELOPMENT WITHOUT GROWTH: CIRCULAR ECONOMY, DOUGHNUT ECONOMICS, AND RELATED MODELS
Abstract:
For decades, Gross Domestic Product (GDP) has been used to signal progress and development; however, it does not incorporate social well-being or environmental sustainability. New paradigms— circular economy, doughnut economics, green economy, de-growth, and happiness-based economies have emerged as alternative approaches to development without growth. This paper analyzes five cases: Amsterdam's circular economy transition, Costa Rica’s renewable energy, Barcelona’s degrowth policies, the EU’s adoption of doughnut economics, Bhutan’s Gross National Happiness to compare how each nation adapts these frameworks to their unique local conditions. Although dependence on growth still prevails, these examples demonstrate how equity, sustainability and ecological balance can enable progress without prioritizing GDP. This study aims to clarify how alternative economic models contribute to the concept of development without growth. Finally, it identifies gaps in measurement policy integration and scaling, and recommends further research to develop comparative frameworks for assessing the effectiveness of post growth strategies across different contexts.
CITATION:
IEEE format
A. Minić, A. Al Hinai, “Adevelopment Without Growth: Circular Economy, Doughnut Economics, And Related Models,” in FINIZ 2025 - The Importance of Business Agility in the Modern Business Environment, Belgrade, Singidunum University, Serbia, 2025, pp. 121-130. doi: 10.15308/finiz-2025-121-130
APA format
Minić, A., Al Hinai, A. (2025). Adevelopment Without Growth: Circular Economy, Doughnut Economics, And Related Models. Paper presented at FINIZ 2025 - The Importance of Business Agility in the Modern Business Environment. doi:10.15308/finiz-2025-121-130
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