Amid mounting concerns over a widening global employment crisis, a new economic framework has been proposed as a possible solution to what experts warn could become one of the world’s biggest socio-economic challenges in the coming decade.
Deepak Sharma, founder of the Human Capital Monetisation Economic System (HRMES), has formally appealed to , President of the , seeking structural reforms to address a projected global shortfall of nearly 800 million jobs.
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The proposal comes at a time when international agencies have repeatedly warned about growing pressure on labour markets due to rapid demographic expansion, technological disruption, and uneven economic growth. According to estimates cited by Sharma from the World Bank Group, nearly 1.2 billion young people are expected to enter the global workforce over the next 10 to 15 years, while current economic systems are projected to create only around 400 million jobs.
The resulting employment gap, Sharma cautioned, could intensify economic inequality, migration pressures, and social instability across both developed and emerging economies.
Beyond Capitalism and Socialism
Calling the current trajectory “unsustainable,” Sharma argued that traditional economic systems are increasingly failing to respond to modern labour realities. He said capitalism often views labour primarily as a cost to be reduced, while socialism has historically struggled to fully harness individual productivity and entrepreneurship.
As an alternative, Sharma has proposed HRMES — a framework designed to recognise human capability as a measurable and monetisable economic asset. The model seeks to integrate an individual’s education, skills, productivity and potential earning power into formal financial and economic systems.
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Human Capital as Collateral
Among its key proposals is the introduction of Human Capital Credit Notes and workforce-backed bonds, financial instruments linked to productivity rather than conventional physical assets. The framework also advocates “Universal Potential Credits,” aimed at supporting groups of individuals in building enterprises, with repayments tied to future earnings.
The proposal further recommends the creation of a National HR Account to record and evaluate the economic value of human capital, alongside a “Manpower Grid” intended to map workforce capabilities and align them with market demand.
According to Sharma, such measures could significantly widen access to capital, especially for individuals lacking traditional collateral, while also encouraging broader participation in entrepreneurship and economic activity.
He has urged the World Bank and other international institutions to explore pilot programmes, particularly in developing nations where unemployment and underemployment pressures remain acute.
The proposal arrives as governments and policymakers worldwide grapple with the economic implications of artificial intelligence, automation, and changing workforce dynamics. While HRMES remains at a conceptual stage, it has added fresh momentum to the growing global debate over how economies can generate inclusive and sustainable employment opportunities in the decades ahead.
TOPICSemployeesThis article was first uploaded on May eight, twenty twenty-six, at twenty-nine minutes past ten in the night.