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.
What characterises the relationship between neo-liberal policies and state intervention?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Neo-liberal policies are critical of both state regulation and state subsidies
Option (1) Neo-liberal policies support increased state regulation — Incorrect. These policies trust market forces; they want less state regulation, not more.
Option (2) Neo-liberal policies have no clear position on state intervention — Incorrect. Their position is clear and stated in the passage: they are against state intervention.
Option (3) Neo-liberal policies demand more state subsidies for industries — Incorrect. They are critical of state subsidies, so they cannot demand more of them.
Option (4) Neo-liberal policies are critical of both state regulation and state subsidies — Correct. Neo-liberal policies believe that a free reign to market forces will be both efficient and fair. It follows that they are critical of both state regulation and state subsidies, which interfere with the market.
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.…” |