The failure of governance in a hyperconnected world

Lee Howell, World Economic Forum Managing Director in charge of Global Risks 2012, has written an op-ed article published in the International Herald Tribune. Below is an extract; you can read the full post here.

Most of us are taught to think about the long-term consequences of our actions, but it is a life lesson that is easily forgotten — both on an individual and an organizational level. This is why, each year, the World Economic Forum poses the question, “What risks should the world’s leaders be addressing over the next 10 years?”
In response, the Global Risks 2012 report presents three “risk cases” that explore facets of a common theme: governance failure in a hyperconnected world.

The first risk case, “seeds of dystopia,” starts from concern that globalization is not delivering on its promises. Gallup polling shows that people everywhere perceive their living standards to be falling, and express decreasing levels of confidence that their governments know what to do about it.

Meanwhile, both the Internet and urbanization make disparities in wealth more transparent. Disparities can spur achievement when social mobility is perceived to be possible. However, when ambitious young people feel that however hard they work their prospects are constrained, feelings of disengagement and discontent take root….

Read Lee Howell’s full post over at the International Herald Tribune