Youth Culture and Globalisation
Read the passage carefully and answer the following questions from
Another key issue regarding globalisation and labour is the relationship between employment and globalisation. Here too we see the uneven impact of globalisation. For the middle class youth from urban centres, globalisation and the IT revolution has opened up new career opportunities. Instead of routinely picking up B.Sc./ B.A./B.Com. degree from colleges, many young persons are learning computer languages at computer institutes, taking up jobs at call centers or Business Process Outsourcing BPO companies, working as sales persons in shopping malls or picking up jobs at the various restaurants that have opened up. In many ways it was a major political change, namely, the collapse of the erstwhile socialist world that hastened globalisation. And also gave a specific economic and political approach to the economic policies that underpin globalisation. These changes are often termed as neo-liberal economic measures. We have already seen what concrete steps the liberalisation policy took in India. Broadly these policies reflect a political vision of free enterprise which believes that a free reign to market forces will be both efficient and fair. It is, therefore, critical of both state regulation and state subsidies. The existing process of globalisation in this sense does have a political vision as much as an economic vision. However, the possibilities that there can be a globalisation which is different do exist. We, thus have the concept of an inclusive globalisation, that is one, which includes all the sections of society. Another significant political development which is accompanying globalisation is the growth of international and regional mechanisms for political collaboration. The European Union EU, the Association of South East Asian Nations ASEAN, South Asian Association for Regional Corporation SAARC are just some of the examples that indicate the greater role of regional associations.
According to the passage, what term is used to describe the economic policies that reflect a political vision of free enterprise?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Neo-liberal economic measures
Option (1) Free-trade economic measures — Incorrect. Free trade (trade without tariffs and controls) is one part of these policies, but the passage does not use this term.
Option (2) Neo-liberal economic measures — Correct. The passage says the changes that underpin globalisation “are often termed as neo-liberal economic measures”, and that these policies reflect a political vision of free enterprise, which believes that a free reign to market forces is both efficient and fair.
Option (3) Structural adjustment policies — Incorrect. Structural adjustment is the set of economic measures a country commits to when it takes loans from international institutions such as the IMF, usually cuts in spending on health, education and social security. The passage does not use the term.
Option (4) Inclusive globalisation — Incorrect. Inclusive globalisation is the different kind of globalisation the passage hopes for, one that includes all sections of society. It is offered as an alternative to the free-enterprise policies, not as their name.
NCERT (2025-26): “Globalisation and Political Changes … In many ways it was a major political change, namely, the collapse of the erstwhile socialist world that hastened globalisation. And also gave a specific economic and political approach to the economic policies that underpin globalisation. These changes are often termed as neo-liberal economic measures. We have already seen what concrete steps the liberalisation policy took in India. Broadly these policies reflect a political vision of free enterprise which believes that a free reign to market forces will be both efficient and fair. It is, therefore, critical of both state regulation and state subsidies.…” |