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My favorite novels seem to work through a big issue (end of the universe!) but drive much of the story from a small issue (Sally's sister can't get her passport). I believe this lets readers invest more in the characters than a big-issue-only approach (told largely from Emperor Ming's POV).
Writers can develop the same levels of tension, drama, and payoff for the small as for the big. When the arcs combine well they heighten the climax while the separate story beats can keep pacing brisk. It does take more cleverness and effort to tell a big story from the small POV.
Who does this well? Paolo Bacigalupi comes to mind, telling stories of a dystopian future through the eyes of its most downtrodden. Also Iain M. Banks, thinking especially of Feersum Endjinn. Several Charlie Stross stories deal with huge issues from an ant's perspective (Accelerando, Glasshouse). Most of Neal Stephenson's work is written that way, following small but pivotal actors in a large play.
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