In Praise of the World Cup’s Little Guys: New Commentary by Professor Andrés Velasco

Professor Andrés Velasco, Dean of the School of Public Policy, has published a new Project Syndicate commentary, In Praise of the World Cup’s Little Guys, exploring what the success of underdogs at the 2026 FIFA World Cup can teach us about business, economics and politics.

In the article, Professor Velasco reflects on a tournament full of surprises, with smaller nations challenging and, in some cases, defeating football’s traditional giants. He argues that these unexpected results offer a wider lesson: in a world dominated by great powers and global technology giants, size does not always guarantee success.

Drawing parallels between football, business and economics, Professor Velasco explores how smaller companies and countries can turn their size into an advantage. They can often be more nimble and bold, while new businesses can emerge to challenge even the largest and most established firms. He points to the economic success of smaller countries such as Singapore, Botswana and Ireland as evidence that size need not be a barrier to prosperity.

The commentary then turns to the wider importance of uncertainty. Professor Velasco argues that the possibility of an unexpected outcome can encourage competition and better decision making. In business, the threat of a new challenger can keep established firms competitive, while in democratic politics, the possibility of losing power can create stronger incentives for both governments and opposition parties to act responsibly.

Ultimately, Professor Velasco argues that there is both joy and value in the possibility that an underdog can defy expectations. As this year’s World Cup has shown, the little guy may not always win, but the chance that they can matters.

Read the full article on Project Syndicate.