It has, in Europe. None of our economies can avoid confronting globalization. Indeed, globalization is like a tidal wave that can either submerge nations in its wake or move them forward in its crest. Good governance is a key to whether nations are overwhelmed or triumph by it. Governance Governance is the manner in which government manages society.
Good governance means the effective and efficient ways government does that it is mandated to do.
Our concept of what government is supposed to do has changed. There was a time when government was seen as the main engine of growth. Today's received wisdom, however, is that government should get out of business. It seems that the government's role is fading as globalization brings down the barriers. Not that national governments will disappear.