Abstract

In a linear economy, manufacturing is less costly and more profitable than remanufacturing because of reduced private costs of utilization and production. However, manufacturing also involves higher resource extraction and waste as externalized costs than remanufacturing. We use a vintage capital framework to assess technological innovations in remanufacturing and their potential benefits to society and human occupations. Our study shows that replacing manufacturing with remanufacturing technologies creates positive static and dynamic circular economy externalities. These externalities can be quantified to assess improvements in social outcomes. A smartphone remanufacturing innovation case study is presented as an illustration of the article's main ideas. Future research should investigate additional specific cases to develop a comprehensive methodology for assessing the impact of remanufacturing innovations on social outcomes. This will provide valuable insights into the broader implications of remanufacturing practices.