ABSTRACT
This chapter looks at the major challenge for public policy in the next decade given the high level of debt in Western economies and the economic imbalance with BRICs and developing economies. Using the data analysis and policy analysis from the earlier chapters, this chapter seeks to draw out overall conclusions for public policy and government intervention, and the most likely consequences of continuing crisis and change. The challenge for policy makers is to take a holistic view of social and economic systems and not to limit their vision and intervention to previous dogma and ideological limitations. The interventions should be designed to bring long term stability to systems, moving them away from the edge of chaos and repeated patterns of instability. Historical events will always generate some instability and uncertainty, but policy should seek to intervene to build an underlying stability despite this. Monetary policy was designed to bring stability to the monetary system through central bank influences on the price of money, but this policy has been shown to be very limited and not holistic in effect. A bolder intervention in market processes is needed that is holistic and driven by a paradigm of public value and collective achievement.
