No one escapes the fury of Arundhati Roy's polemic against corporate capitalism in India - not even herself.

After raging against the corporations' attempts to buy into middle-class affections by financing film and literary festivals, she declares an interest: "But which of us sinners was going to cast the first stone? Not me, who lives off royalties from corporate publishing houses."

She is of course the internationally renowned author of Booker Prize-winning The God Of Small Things and probably spends much of her life at corporate-sponsored literary festivals. But throw the first stone she does, and the second, and any projectile she can lay her hands on.

And everyone is a target, not just robber barons plundering India's natural resources.

The NGOs (non-profit, non-government relief and development agencies) she says have also become agents of global capitalism. "The narrow focus on human rights enables an atrocity-based analysis in which the larger picture [of corporate greed] can be blocked out."

Credit unions and micro finance have helped force "hundreds of thousands of farmers into committing suicide". Some feminist organisations in India are attacked for their preoccupation with, well, women's issues that obscure capitalist relations of exploitation.

Even Nelson Mandela gets stoned by Roy. "When Nelson Mandela took over as South Africa's first Black President, he was canonised as a living saint, not just because he was a freedom fighter who spent 27 years in prison, but also because he deferred completely to the Washington Consensus." You want to ask: well, which was he?

No one gets out of this polemic alive. It begins as a critique of globalisation and the emergence of an Indian super-rich. The country's 100 top people own assets, she claims, worth one quarter of India's GDP. Actually, they own a hefty chunk of British GDP also, since Indian mega-companies such as Tata now own some of our biggest brand names: Jaguar, Land Rover and even Tetley Tea.

But her book turns into a blunderbuss, a j'accuse tout le monde, that induces indignation fatigue in the reader. The world she presents is a vast conspiracy. Charities, academies and billionaire foundations informed by western development studies have "waded into the world, turning potential revolutionaries into salaried activists, funding artists, intellectuals and filmmakers, gently luring them away from radical confrontation, ushering them in the direction of multi-culturalism, gender studies, community development - the discourse couched in the language of identity politics and human rights."

Roy's anger at the fate of the millions of her countrymen and women who live on less than two dollars a day while the super-rich take over the world, is understandable and in many ways admirable. Of course the privileged should have a conscience, and hers is as big as a planet.

But the sheer relentlessness of her tirade clouds the mind and induces indignation fatigue and even mockery. In fact, this book is almost like a comic parody, and a couple of times I wondered if this was in fact a satire from the pen of Craig Brown.

I hate to have to say this because I agree with most of what she writes about the emergence of a global capitalist elite which is trying, through philanthropy as well as exploitation, to remake the world in its image. I think most people do see the re-emergence of inequality as a serious problem - even some conservatives.

Liberal capitalism has become a playground for corporate interests who long ago gave up hiring private armies to break strikes. Now they co-opt local elites in much more subtle ways, such as financing cultural festivals, community enterprises and educational institutions.

NGO bureaucrats racing around in their four by fours claiming to be doing good while behaving like new colonialists is a problem. However, most of them do actually do some good, like Oxfam, Save The Children, the White Ribbon Alliance For Safe Motherhood. Even Bill Gates, who is one of the philanthropists Roy criticises, did at least try to put his money to better use than mere self-gratification.

Roy began to remind me of those people who condemn food-bank charities such as the Tressell Trust for papering over the cracks in the welfare system and bigging up their own organisation. Yeah, but the point is that people really needed the food. You just can't live in a world where everything is suspect. You can't keep this kind of righteous fury going for very long or you lose the will to live.

That is why the Occupy Movement, which Roy supported, came and went in the space of 18 months. In many ways her book is a Communist Manifesto for 21st-century anti-captalists. But without the manifesto. There is no coherent political analysis.

There is a great book to be written about the way in which turbo-capitalism has turned an impoverished country into one of the richest in the world without making it much less impoverished. When next I dip my tea bag in hot water I will think of the people forcibly relocated for Tata's steel plant in Kalinganagar. But Ms Roy needs to turn the volume down from 11. And choose her targets more carefully, if only to avoid shooting herself in the foot.