In the ideal free-market economy, where prices perfectly reflect the cost of goods and services, everyone would be stipulated to minimize waste and preserve energy; we would have what you call a circular economy. Ergo, there is no need for inventing a new term: the circular economy.

Perfection is in heaven, but to get there, one needs to die first.

There is no perfection on Earth and never will be; hence, we do not have a perfect free-market system and never will, even if we call it the circular economy.

When it comes to the climate change issue, it is another big baloney: https://medium.com/datadriveninvestor/science-and-money-in-the-climate-change-debate-f94e3c7130ac