Working Paper No. 387 Time as a Structural Barrier for a Circular Economy - Ratio

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Article (with peer review)

Barriers to circularity in the metals industry: an analytical framework of feedback and lock-in effects

Grafström, J., Poelzer, G., & Pettersson, J.

Publication year

2025

Published in

Mineral Economics.

Abstract

The metals sector faces multiple and interconnected barriers to achieving circularity. This study examines steel, aluminum, and copper to illustrate how challenges vary between metals. While copper can often be recycled without quality loss, steel and aluminum face alloy-related limitations that drive downcycling and quality degradation. Using a matrix-based analytical framework, the study maps the interactions between economic, technological, institutional, and social constraints, distinguishing between primary drivers, secondary effects, feedback loops, and lock-in mechanisms. The results show strong reinforcing links between economic, technological, and institutional domains, with social factors playing a more indirect role. These findings align with observed industry patterns while adding a structured, quantitative perspective. By clarifying how different barriers combine and reinforce one another, the analysis identifies priority areas for intervention to advance metals recycling and support the transition toward a more circular economy.

Working Paper No. 385 The workload paradox: Will AIreduce academic labor?

Jonas Grafström

Publication year

2025

Published in

Ratio Working Paper Series.

Abstract

Artificial intelligence is reshaping academia, but instead of liberating scholars, AI might keep them running faster just to stay in place. This paper theoretically explores how AI increases institutional expectations rather than reducing workload. Using a formal workload model, the study examines how automation affects academic tasks, revealing that while AI streamlines some processes, it also creates new responsibilities in research, publishing, and administration. A case study illustrates how scholars experience rising pressures to verify AI-generated work, adapt to changing publication norms, and meet intensifying institutional demands. The findings suggest that AI’s role in academia is not one only of simplification, but acceleration—a race where efficiency gains are quickly absorbed, where the pursuit of academic excellence becomes ever more demanding, and where scholars must continuously push forward, not to advance, but merely to avoid falling behind.

Working Paper No. 384 Vertical industrial policy: principles, practice and potential

Jonas Grafström

Publication year

2025

Published in

Ratio Working Paper Series.

Abstract

This report investigates the rationale, implementation challenges, and evolving global context of vertical industrial policy, with a particular focus on Sweden. Against the backdrop of recent global crises—including the 2008 financial crisis, the COVID-19 pandemic, and geopolitical disruptions following Russia’s invasion of Ukraine—the analysis explores how governments have re-evaluated the role of state intervention to bolster economic resilience and strategic autonomy. The report distinguishes between horizontal and vertical approaches, where vertical policy targets specific sectors or technologies considered critical for national development, such as green technology, semiconductors, and renewable energy. Drawing on economic theory and empirical evidence, the report outlines the key justifications for vertical industrial policy, including market failures, coordination problems, and the under-provision of public goods. It also addresses the limitations and risks associated with such policies, including information asymmetries, rent-seeking, and political capture. A central contribution is a decision-making framework designed to help policymakers assess when vertical industrial intervention may be justified and how it can be designed to minimize inefficiencies and unintended consequences. While the report takes a cautiously critical stance toward vertical industrial policy, it acknowledges its potential when implemented with clear objectives, regular evaluations, and institutional safeguards. The analysis highlights the need for a balanced and flexible approach, especially in the context of green transitions and geopolitical fragmentation.