India, April 26 -- During the last two decades or so there has been a growing trend towards globalisation of trade and commerce and a free-market economy. The academic economists believe that these steps would give a spurt to forces of competitiveness, efficiency, better job opportunities and generation of more wealth and prosperity.
But one has to take into account not just these benefits but also the overall consequences of globalisation and the free play of market forces. As everyone knows, globalisation is only a small bit of economic philosophy or policy and one must know the all-inclusive worldview or philosophy of which it forms a part. Without viewing it in the full context, one may have an erroneous view of it.
Like, the globalis...