Rethinking governance: treacherous terrain, shifting agenda and the possible way forward

Since the end of the Cold War, unnecessary, unprecedented and extensive level of deregulation has been become the catalyst for a rapid expansion of the private sector resulting in a dramatic diminution of the government's capacity to control its own state of affairs and to deliver services to its citizens. The rationale for the existence of the government is, therefore, questioned. This paper deliberates on the importance of the rise of the government out of this apparently `hollow' state and its need for reasserting its authority and power based on the principles of `social contract' and democracy. It also outlines the importance of an effective global governance structure to tackle increasingly complex issues such as poverty, crimes and climate change. In line with the spirit and principles of the `social contract' theory, negotiating a `global contract' is also suggested to democratise global institutions and to make them more transparent, effective, and acceptable to the global community. It is argued that the failure to govern the world affairs with a shared vision and measurable outcomes could ultimately lead the world to disastrous consequences.