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In 1946, Chester Bowles-advertising executive, director of the Office of Price Administration during World War II, and popularizer of the soap opera-published a remarkable pamphlet about the coming transition to a peacetime economy. In clear, optimistic prose he explained the economics of what had gone wrong in the Great Depression and why the United States had been able to awaken its productive capacities during the war.

The circular economy is a generic term for an industrial economy that is, by design or intention, restorative and in which materials flows are of two types, biological nutrients, designed to reenter the biosphere safely, and technical nutrients, which are designed to circulate at high quality without entering the biosphere.