Molby, a former Liverpool schemer, doubts Barkley will shine if England make Brazil 2014.
He told the Daily Star Sunday: "England are always looking to fast-track these talented players - with the latest example Ross Barkley.
"He looks an exciting talent but is he ready for a World Cup? I would suggest not. He is just about ready for Under-21s football. In any walk of life you need to go through an apprenticeship.
"They hand out caps far too easily. It takes nothing really - two good games at domestic level. You don't become a great international footballer because you have played a few good games in the Premier League.
"The better Under-21s are always to be found in the full squad, which ties into this mentality of thinking that the players have made it before they truly have.
"Look at Spain or Germany - they stick their exceptional players in the Under-21s for their progression.
"Barkley manages to hold his own in big games technically but sometimes the English get carried away."
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