ABSTRACT
Globalization, defined here as Westernization (i.e. the spread of Western economic techniques, political institutions and norms), is a system that enriches the West while impoverishing the Rest (Huntington 1993; Mahbubani 1992). The Western economic ideology is capitalism, a marketcentred system of resource allocation dominated by owners of capital. In its latest manifestation, capitalist ideology has joined neo-liberal and neoconservative camps on the basis of a common belief in the universal supremacy of market forces (Fukuyama 1992; Huntington 1996). While the market has been enthroned, the power of the state has declined. This puts the wellbeing of the vast majority of people around the globe at risk. The chief villain is a globalizing capitalist ideology. What is this ideology?
