Things Fall Apart – When the Centre Cannot Hold the World’s Economy

The world economic system has fallen apart in the last few years in the midst of the radical changes in fiscal and monetary policies. The policies are based on economic models whose outcome now assumes stochastic characteristics instead of deterministic nature. The stochastic nature makes it difficult to predict the outcome of the policies and this has led to a higher degree of uncertainty in the world economy with regards to the impact of these policies. In spite of these uncertainties, it is unemployment which is on the minds of people. However, there is still hope for the unemployed due to the availability of job growth in the virgin sectors of the economy which is fast becoming the driving force for the new world economy and for its sustainability.