It has become popular today to say that we live in an era of what Benjamin Barber has labelled "Jihad vs. McWorld." The globalising powers of capitalism ("McWorld") are confronted with or resisted by the forces that Barber labels "Jihad" — the variety of tribal particularisms and "narrowly conceived faiths" opposed to the homogenising force of capital. Even those with a critical view of the growth of American empire and the expansion of what is erroneously termed the global market usually subscribe to this interpretation. In fact it is the critics who often argue that we need a better understanding of these local forms of resistance against the "universal" force of the market.

The terms of this debate are quite misleading. We live in an age, to adapt Barber’s nomenclature, of "McJihad." It is an age in which the mechanisms of what we call capitalism appear to operate, in certain critical instances, only by adopting the social force and moral authority of conservative Islamic movements. It may be true that we need a better understanding of the local forces that oppose the globalisation of capital; but, more than this, we need a better understanding of the so-called global forces of capital.