Phi Beta Iota: The interactive edition is well worth going through. Below are highlights from our own review.
Six Risks Stand Out: Fiscal crisis, Geopolitical Conflict, Climate Change, Extreme Energy Price Volatility, Economic Disparity, Global Governance Failure.
Risk Interconnectivity Map: Central to the map are Economic Disparity and Global Governance Failures. Three clusters add depth to the potential sustained crisis: Fiscal-Energy Volatility; Crime, Corruption, and Failed States; and Water-Food Security.
Overall this is one of the most extraordinary points of reference in existence.
Governance Failures & Economic Disparity: WEF Global Risks Report 2011 Posted: July 18th, 2011 | Author: chris arkenberg
The Global Risks Report 2011 from the World Economic Forum highlights two primary megatrends with the potential to inject significant disruption into global systems. From the report:
Two risks are especially significant given their high degrees of impact and interconnectedness. Economic disparity and global governance failures both influence the evolution of many other global risks and inhibit our capacity to respond effectively to them.
In this way, the global risk context in 2011 is defined by a 21st century paradox: as the world grows together, it is also growing apart.
It is worth noting how inter-related these two megatrends are as wealth consolidation into an elite class enables them to further deconstruct global governance mechanisms. This has been a feedback loop for at least the past 40 years, if not longer, as western growth fueled the rise of non-state economic bodies & super-empowered individuals who then lobbied against regulatory measures that would aim to keep their rise in check and mitigate the risk of disparity. Elites consolidate more money & power, further driving disparity and eroding governance. What results is an interstitial vacuum where corporate intervention fails to see any profit motive and where state intervention lacks the funds or will to govern effectively.
In effect, the combination of super-empowered non-state actors, failures of state governance, and widespread economic disparity undermines the Rule of Law by releasing elites from accountability and driving the underclass deeper into criminality.
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