World Economy in 2213 (Essay Sample)

SPECULATION AND OPTIMISM: THE WORLD ECONOMY IN 2213

SAMUEL KATHUKU
Evaluation Essay
8TH DECEMBER, 2013
The global economy today presents great hope and optimism over the next 200 years. It is at this time that the financial prediction from our current state of the economy indicates the best experience ever presented in the entire human history. The global population will have declined by about 40% after reaching its climax of ten billion people by the end of the first century from now (Alex 2012). In his opinion, this will encompass the greatest social advancement in all sectors. He further advises that, at the time, the world socio-economic systems will be greatly advanced. In his opinion, the population decline will suppress labor markets and unlimited access to job opportunities. From labor economics stand point; this will lead to increased salaries and incomes being paid to those in active employment. He additionally points out that the population decline will lead a decline in the market for housing. Consequently, this will lead to a decline in the demand for housing and real estate whose current markets are driven by demand-supply market forces and short to midterm speculation of up to the end of the first century from now.
Presented with the opportunities and challenges foreseeable in the next two centuries, human beings have to evolve continually. The nature of evolution foreseen in humanity will require an adjustment to match the fast evolving global systems. Now, the world has become a global village a situation only likely to last the next one or two decades. The Journal of World Economic Research (JWER) projects that the globe will by 2213 be like a small room in which all you need is “just” with you wherever you are. With this foreseen, the global Information Technology Systems (ITS) will additionally have been saturated with information. This will translate to more efficient systems as the ITS will provide a platform for the expansion of the global markets. The JWER indicates that, at the time, the world economic markets will be more efficient and fast growing with no arbitrage opportunities at all than the current state of the economy. This will means that one will be able to undertake unlimited projects and manage them remotely. According to the journal, the world economy will then see introduction and integration of mass robot technology3 in humanity to supplement the reduced population i...