Résumé
It is generally assumed that the circular economy generates net benefits; and that these benefits can be fairly accurately measured. Based on the case of treated wastewater reuse (TWWR), this article challenges both assumptions. We argue that economic assessments of TWWR are always deeply political, as they cannot be detached from the promotion and prioritization of particular collective goals. We successively explore: the politics of benefit assessment; the politics of cost assessment; and the politics of costsharing arrangements. We argue that this inescapable political dimension, amplified by wide-ranging economic uncertainties, justifies setting up participatory arenas for each individual project.