Sidney, it could serve to a number of interpretations and meanings.
Generally the word ''absurd" has a negative sense to it. But you brought up a whole sentence; then it reminded me of other area of knowledge: Phylosophy.
From combining the readings of Thesaurus (looking up the word - absurd) and then the following sites, I take it that in philosophy you can think of "absurd" as "surreal" (or picking a term used by cinnamon, "unreasonable" - to a certain degree).http://opinionator.blogs.nytimes.com/20 ... surd/?_r=0https://philosophyforchange.wordpress.c ... nd-revolt/
So, perhaps in that context (and only in that, certainly.) we could rephrase "we live in an absurd world." to "we live in a surreal/not always reasonable world."
Like a reader commented "The more you gaze at the word 'absurd,' the more absurd it appears."
Ha ha ha!