Is the circular economy a restraint on business, or an opportunity?

At first glance, the European Union's "circular economy" strategy, issued last year, seems like bad news for businesses.\nIn effect, it is telling us to spend and use less.

Don't buy a new phone, buy a used one. Don't buy a plastic bag, reuse a cloth bag. Don't buy a car, share one with your neighbour. \nA lot of businesses only hear one message: don't buy.

Buying has long been the centre of the Western world's economic model, what some have termed the "throw-away society". We buy...