o:2455 CIRCULAR ECONOMY AND SUSTAINABLE DEVELOPMENT en The waste increase and the environmental damage risk are important causes for the emergence of a new economic model that replaces the linear economy. The aim of the research is to point out the importance of the circular economy in a globalized society in which the sustainable development is a highly positioned goal. The importance of the issue stems from the fact that social welfare, apart from the development of production, must also be based on the preservation of health and living environment. The paper demonstrates many economic and social benefits from the implementation of the circular economy principles, as well as, the basic elements of this concept. The main objective is to reduce waste from the existing production cycle through the recycling process. ECONOMICS OF SUSTAINABLE DEVELOPMENT Vol. 4, № 2, pp. 1-9 1552099 10.5937/ESD2001001M 2024-03-17T19:28:00.005Z 44 yes 46 Milan Marković Innovation Center, University of Niš 0000-0002-9617-6697 2020 46 Tamara Rađenović Faculty of Economics, University of Niš 0000-0003-1632-7772 46 Bojan Krstić Faculty of Economics, University of Niš 0000-0003-4597-6819 application/pdf 473855 https://phaidrani.ni.ac.rs/o:2455 no yes 18 70 92000001 18A15