Visit an Urban Outfitters, Anthropologie or Free People clothing store, and you're likely to think, "They know their market." Yet Urban Outfitters, which owns all three stores, has leaders who are so out of touch that for years they have refused to have a policy to even consider having women and minorities on its board of directors.
Efforts to reform Asian soccer governance have stalled more than a year after FIFA ousted disgraced former Asian Football Confederation president Mohammed Bin Hammam in the sport's worst corruption scandal that tainted multiple members of the executive committees of both the world soccer and the Asian soccer body.
It is the nature of governance that determines whether people deploy their talents and energy in pursuit of innovation, production and job creation, or in rent-seeking and lobbying for political protection. The contrast is starkest in emerging countries, but differences also exist among the advanced economies.
The West's power is fading, and emerging economies are gaining ground. In the near future, the world will have numerous centers of power, founded on alternative models. This change can take place in an orderly and peaceful way if the West recuperates its leadership role, and to do so, it will have to relaunch its economy and its democratic institutions. The twenty-first century will not belong to the United States, Europe or China. It will be no one's world.