Economic nationalism

Ideology that favors state intervention to protect the domestic economy / From Wikipedia, the free encyclopedia

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Economic nationalism is an ideology that prioritizes state intervention in the economy, including policies like domestic control and the use of tariffs and restrictions on labor, goods, and capital movement.[1] The core belief of economic nationalism is that the economy should serve nationalist goals.[2] As a prominent modern ideology, economic nationalism stands in contrast to economic liberalism and economic socialism.[3]

Economic nationalists oppose globalization and some question the benefits of unrestricted free trade. They favor protectionism and advocate for self-sufficiency.[4] To economic nationalists, markets are to be subordinate to the state, and should serve the interests of the state (such as providing national security and accumulating military power). The doctrine of mercantilism is a prominent variant of economic nationalism.[5] Economic nationalists tend to see international trade as zero-sum, where the goal is to derive relative gains (as opposed to mutual gains).[1]

Economic nationalism tends to emphasize industrialization (and often aids industries with state support), due to beliefs that industry has positive spillover effects on the rest of the economy, enhances the self-sufficiency and political autonomy of the country, and is a crucial aspect in building military power.[1]

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