Question

What is economic nationalism? Is it good or bad? Also what are the pros and cons.

What is economic nationalism? Is it good or bad? Also what are the pros and cons.

Homework Answers

Answer #1

Economic nationalism refers to an ideology that favors state interventionism in the economy, with policies that emphasize domestic control of the economy, labor, and capital formation, even if this requires the imposition of tariffs and other restrictions on the movement of labor, goods and capital. In many cases, economic nationalists oppose globalization or at least question the benefits of unrestricted free trade. Economic nationalism is the doctrine of mercantilism, and as such favors protectionism.

In fact, there's good reason to believe that protectionism, and economic nationalism more generally, cuts the other way. It is, in fact, one of the best policies

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