Who should rule the world? Central or local authorities?

Who should rule the world?

In today's globalized world the issue of centralization/decentralization seems to be of great importance. Centralisation brings the benefits of the economy of scale, introduces standards and so on, yet it is against the general order of the world which is rather decentralised, and where everything is in accordance with its nearest
surroundings.

I want to bring up the issue of governance and ask which process works better? Is any of the two universal, i.e. can it work in all three domains: economy, politics and culture?

If we decide on a common economic policy (common currency, tax law and so on) will it affect politics and culture so that everything becomes centralised?

Btw. do not mix up central governance for central planning. Those days are over, I hope :)

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