This paper addresses the issue of how lifelonglearning, globalisation and capitalism arerelated within late modernity. It is criticalof the argument that there is now anincreasingly homogenous global economy that isknowledge based and that unambiguously requiresa high level of cognitive skills in itsworkers. The idea that globalisation producessuch rapid changes in the world of work thatlearning must be ongoing to cope with it ischallenged.