Which of the following statements are not correct? 1. In world politics, 'hard power' can be exercised by both States and other actors involving use of threat or coercion. 2. Globalisation is necessarily economic, not cultural. 3. The term 'Washington Consensus' refers to a policy that seeks intervention in the market. 4. 'Autarky' is generally understood as economic 'self-sufficiency'.

Statement 1 is correct as hard power involves coercion or threats and can be exercised by both states and non-state actors like terrorist groups [1]. Statement 4 is correct as autarky is defined as economic self-sufficiency. However, statements 2 and 3 are incorrect. Globalization is a multidimensional phenomenon that includes significant cultural and political aspects, not just economic ones [3]. The 'Washington Consensus' refers to a set of neoliberal, market-oriented policies promoted by the IMF and World Bank that advocate for privatization, trade liberalization, and a reduction in state intervention in the market. Therefore, it seeks to decrease rather than increase market intervention. Since the question asks for the 'not correct' statements, 2 and 3 are the right choice.

Sources

1. [1] Contemporary World Politics, Textbook in political science for Class XII (NCERT 2025 ed.) > Chapter 5: Security in the Contemporary World > New Sources of Threats > p. 71
2. [2] Environment and Ecology, Majid Hussain (Access publishing 3rd ed.) > Chapter 11: Contemporary Socio-Economic Issues > social relevance of liberalisation and Globalisation > p. 14
3. [3] Contemporary World Politics, Textbook in political science for Class XII (NCERT 2025 ed.) > Chapter 7: Globalisation > Resistance to Globalisation > p. 109