Diamond Economics
Defragmenting the Circular Economy for a Just Transformation
by Cynthia Reynolds
Explore a groundbreaking approach to economic transformation that goes beyond circularity and transitions toward true systemic change. Diamond Economics introduces the Four Lenses—Systems Thinking, Innovation, Inclusivity, and Governance—combined with practical tools for creating regenerative systems.
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About the Author
Cynthia Reynolds, a Fellow of the Royal Society of Arts (RSA), is a Canadian who has called Norway home for nearly 25 years. A recognised leader in circular economic development, she excels at bridging theory and practice to drive transformative societal change. With a strong focus on leveraging technology and global networks, Cynthia is dedicated to creating sustainable social, economic, and environmental impact locally and globally.
As the Convener of the Circular Economy Coalition, which spans over 30 countries, Cynthia connects research, academia, civil society, and the public and private sectors through the use of shared tools and resources. She is the Founder of Locals.Global, a United Nations Environment Assembly-accredited organisation where she influences global policy while supporting local action. She is a sought-after keynote speaker and panelist and serves on seven of the EU Circular Economy Stakeholder Platform Leadership Groups including those on Biodiversity, Procurement, Economic Incentives and Social Enterprise.
As an active member of her local community of Nesodden, Norway, she has spent over 20 years using her local surroundings as a testbed for circular innovation. Recognised as a Finalist in the Transformative Leadership Award 2024, and listed as one of the Top 100 Women Social Entrepreneurs by the Euclid Network in 2022, she is an autodidactic polymath and proponent of lifelong learning. Cynthia has cultivated knowledge across multiple disciplines and her unique approach has empowered her to turn visionary ideas into strategies and put those strategies into action creating meaningful, long-lasting impact.
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Special Features
A Sneak Peek into Diamond Economics
What you can expect to find in the book
The Transition vs. Transformation section of Diamond Economics addresses a crucial distinction in economic and societal change.
Transition refers to incremental adjustments made within existing systems. These changes typically involve improving efficiency, reducing waste, or gradually shifting towards sustainability without fundamentally altering the underlying structures. For example, transitioning from fossil fuels to renewable energy within the current market economy is a transition.
Transformation, on the other hand, calls for a deeper, systemic shift. It involves reimagining and redesigning core structures, rules, and values of the economy to address root causes of inequality, environmental degradation, and unsustainable practices. Transformation moves beyond circularity or sustainability into regenerative systems that operate within planetary boundaries and prioritise long-term societal wellbeing. An example would be a shift from a growth-driven economy to one focused on wellbeing and equity.
Systems Thinking, Innovation, Inclusivity, and Governance—form the foundation for evaluating and refining economic models, policies, and business strategies.
- Systems Thinking: Focuses on viewing the economy as an interconnected system where changes in one area affect the whole.
- Innovation: Encourages creativity in business models, technologies, and solutions to drive systemic change.
- Inclusivity: Emphasizes equitable participation, ensuring all stakeholders are involved and benefit.
- Governance: Highlights the importance of policies, rules, and structures to regulate and drive sustainable systems.
The DREAM Framework (Domains, Resources, Events, Agents, and Mission) is a concise framework for analysing circular systems and ensuring resources are maintained at their highest societal value..
- Domains: The context or sectors in which resources and events interact.
- Resources: Examines tangible and intangible resources within the system.
- Events: Key moments that affect the flow and value of resources.
- Agents: People and entities driving or benefiting from the system.
- Mission: The central purpose of keeping resources in use at their highest societal value.
It serves as a common language that connects diverse networks, hubs, and projects within the circular economy. At its core is a powerful taxonomy that enables interoperability across sectors and regions, fostering seamless collaboration and data sharing. This shared intelligence allows for the cross-pollination of ideas, resources, and innovations, enhancing collective awareness and driving progress toward sustainable and regenerative systems. By bridging gaps between different initiatives, the ontology helps align efforts for greater impact.
Exploring the connection between biodiversity and security on personal, regional, national and global levels.
Diamond Economics includes 4 Stages of Action and their associated Methods of Implementation for safeguarding biodiversity in alignment with the Sustainable Development Goals.
The Access – The Market Interface concept in Diamond Economics focuses on how individuals and organizations engage with the economy, emphasizing that access to markets is a key driver for economic participation and societal value creation. This section explores the mechanisms that either enable or restrict market access, and how these systems can be redesigned to foster inclusivity and equality.
We challenge outdated notions of achievement at every level—individuals, businesses, communities, and nations. Discover a visionary approach to success that prioritises well-being, resilience, and regeneration, measuring progress by the value we create and give back to society and the planet.
Diamond Economics addresses the systemic imbalances between the Global North and the Global South, and how these disparities impact global economic participation and sustainability efforts. The goal is to explore how these dynamics can be shifted to promote global inclusivity and foster equitable economic transformation, including insight into the Indigenous facet of the diamond and cultural heritage.
Insight into the Diamond Economics Policy Guide and the associated tools, workshops and facilitator guides in development for the Community of practice
The Diamond Matrix is where the 4 Lenses and the DREAM framework converge, providing a comprehensive and practical tool for evaluating to transform ”Diamonds in the Rough into True Gems.
From Unicorns to Zebras and Gems – a comparison
Gems are the regenerative, distributive businesses, roadmaps, and policies that put theory into practice.
Reflections
Reflections provide a space for critical thinking and personal application. They encourage readers to pause and consider how the principles of Diamond Economics relate to their own work, communities, or global challenges. These reflections are designed to provoke deeper thought, fostering a more personal connection with the material.
Insight into how you can dive deeper into the concepts by linking to insightful resources.
Introducing the Diamond Economics Digital Companion & Community of Practice
In addition to the transformative insights and tools presented in Diamond Economics, there will be a digital companion to support the growing Community of Practice interested in using these shared tools for systems awareness.
The digital companion will offer access to interactive resources, including tools and frameworks designed to help you apply the Diamond Economics principles in your work or community. Whether you’re a researcher, policymaker, investor, business leader, philanthropist, or change-maker, the digital companion will provide practical guides, case studies, workshops, digital assets and step-by-step processes to implement innovative circular economy strategies, systems thinking, and inclusive governance.
Alongside the digital tools, we aim to support a Community of Practice—a global network of individuals and organisations committed to using the Diamond Economics framework and associated tools to drive systemic change. This community will serve as a collaborative platform for sharing insights, learning from real-world applications, and connecting with like-minded professionals working on innovative solutions. Members will gain early access to updates, events, and collaborative opportunities as we continue to expand the tools and resources in development.
Influences
Integrating Systems Thinking, Mission-Driven Innovation, and Cultural Inclusivity for a Regenerative Economy
Diamond Economics draws on the visionary work of Ken Webster, whose leadership at the Ellen MacArthur Foundation and expertise in systems thinking and circular economies have been foundational to the work. Ken’s insights are included in his Introduction of the book.
Walter Stahel’s 30+ years of pioneering circular economy theory have deeply influenced the book’s development, particularly his focus on regenerative systems and sustainable resource use.
Building on these ideas, John Elkington’s Green Swans concept—positive market shifts driving sustainability—has shaped the book’s emphasis on bold, transformative innovations. Similarly, Kate Raworth’s Doughnut Economics advocates for a regenerative and distributive economy within planetary boundaries, while Elinor Ostrom’s Governing the Commons inspires a focus on inclusive governance.
Influenced by Mariana Mazzucato’s Mission Economy, the book embraces mission-driven collaboration for public value, and Ed Morrison’s Strategic Doing informs agile, network-based strategies. Christopher Alexander’s Pattern Language adds insights on scalable, adaptable solutions within economic systems.
From a cultural perspective, Richard Lewis’s When Cultures Collide highlights the importance of understanding global dynamics, paired with Arun Maira’s Listening for Well-being, advocating for human-centred, ecologically sensitive solutions.
By integrating these frameworks, Diamond Economics offers a comprehensive blueprint for equitable, sustainable, and transformative economic systems.
