4 min read.Updated: 19 Jan 2022, 10:03 PM ISTKlaus Schwab
Let’s discard outdated models to tackle today’s challenges if tomorrow’s generations are to thank us
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In 2022, the covid pandemic and the myriad crises it spawned may start to recede. Even in a best-case scenario, though, a tsunami of new challenges—from the failure of climate action to the erosion of social cohesion—is within sight. Addressing them will need leaders to adopt a different governance model. When our institutions are well governed, we pay little attention to them. They are invisible supports for the economy and social order. And ‘good enough’ governance in the second half of the 20th century enabled income growth and social peace. Today, however, many people have lost faith in their leaders. Faced with mounting risks and our collective failure to address them, we’ve started looking for culprits. Some point the finger at inept political leaders, others blame “Davos Man", and a minority sees an elite conspiracy behind the current gloom.