This contribution deconstructs globalization using a critical discourse method. Taking Australia as its case study, the essay argues that globalization must be seen within the context of hypercapitalism and the unchallenged hegemony of neo-classical economics and neo-liberal politics. The Australian experience, it is argued, shows that trade unions should refuse to be incorporated into this hegemony presented as technocratic alchemy. In fact, deconstruction reveals that globalist claims rest upon highly contestable tautological claims. This essay briefly describes Australian political economy 1983-96 when the Labor government, in an 'accord' with the trade union movement, embraced free-market globalism; critically deconstructs the ideological features that underlie the technocratic claims made about the benefits of globalization; and argues for a resurgent unionism and traditional labourism that dialectically challenges the inequitable and destructive features of contemporary hypercapitalism.