In modern and post-modern studies, globalization as a subject has been studied under the realm of economics given importance of economics for states in modern and post-modern times especially due to western influence. However, globalization as an occurrence can be traced back to the days of evolution of human kind. The human race as we understand it in the contemporary world has evolved through time and has acquired certain characteristics which is due to interactions of various sub species of homo sapiens residing in different part of world. Hence it can be said that globalization is more focused on interaction at global level and consequences thereof.  With different approaches laid down by the scholars, there happens to be an ideological void in terms of harmonization of the various aspects of globalization under one definition. The study becomes imperative under contemporary circumstances as due to a narrow interpretation we have failed to achieve the intended objective i.e. bringing the parity and bridging the gap in the society. Therefore, this paper analyses different aspects of globalization and answers the query i.e. where the globalization has gone wrong in modern world. While addressing the abovementioned query the paper discusses and critically analyses the other theoretical aspects, definitions and approaches laid down by the scholars engaged in the globalization discourse so as to achieve a theoretical and terminological uniformity viz-a-viz the understanding of the concept at a broader level. 

Keywords: Economics, Globalization, Harmonization, Modern, Post-Modern.