Functional Economy

Book excerpt: Functional Economy is a concept that is often associated with ecological transition and sustainable development. It prioritizes the use of a service or good rather than its sale, and tends to encourage cooperation. This model supports the transition to a more ecological and equitable economic and social environment. This book presents the different approaches to the Functional Economy and the ways in which the various players (companies, public institutions and citizens) are adopting and adapting them through innovation. Depending on their degree of sustainability and their scope, these innovations can have major economic, social and environmental impacts. Particularly at the local territorial level, those involved in innovation need to be supported as closely as possible if they are to overcome the hurdles they face and reap the rewards of the transformations brought about by this socio economic model, which is built around functionality.