Abstract
This paper is an attempt to understand the enigma that is globalisation. The paper relies on the global capitalism approach, which locates the dominant global forces in the structure of an ever‐more globalising capitalism. It deals with the role of neo‐liberal globalising forces in the field of global economics; global politics and the role of ideology of consumerism in transnational cultural ideological practices. The paper argues that globalisation is far from being inclusive. To survive and thrive in such an iniquitous world, the few big beneficiaries of globalisation are playing a mind game. The game is to create a new world, which does not adhere to the existing norms and patterns. The agenda is to formulate different rules and prescribes new paradigms based on the primacy of markets in all walks of life. The net result of placing markets as the primary agent of all human endeavours is that today we are witnessing a world where‐economy is building castles in air; politics is suffering from cognitive freeze; culture is experiencing shock and military is in a state of stupor.
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