While the old social contract of 1945 that of the welfare state, which corresponded to an earlier phase in globalization is disintegrating in the face of market pressures, the new phase of globalization and the third industrial revolution which underpins it have not yet been accompanied by a new social contract. It will have to be invented, and life-long education for all should be one of its foundations. The second major challenge concerns sustainable development. Our modes of development, based on the squandering of non-renewable resources, put a strain on the development of future generations. Three planet Earths would be necessary if the world s population were to have access to North American modes of development and consumption.
Humanity now has the capacity to destroy itself as a species.
The third major challenge is the drunken boat syndrome. But nor is there a favorable wind for the who has broken his rudder. Politics, sovereignty, democracy itself, which in many areas of the world is still no more than a fresh coat of paint, seem to have lost their hold on events as abstractions such as financial markets, interest rates, exchange rates, commodity prices, indexes and statistical artifacts take over. What is more, most of today s problems extend beyond national borders. Water is becoming an international issue, to such an extent that the 21st century might well witness water wars.