The Nationalist Dilemma: A Global History of Economic Nationalism, 1776-Present

Economic nationalism is a political ideology that prioritizes the interests of the nation-state over the global economy. It seeks to limit global exchange and prioritize economic development, often capitalizing on economic inequality. This book explores economic nationalism over the past 250 years, highlighting its influence on global exchange and its ability to shape policy.

Format: Hardback
Length: 434 pages
Publication date: 11 May 2023
Publisher: Cambridge University Press

Nationalists have a profound impact on economic policy when they gain political power. While some nationalists advocate for limiting global exchange, others prioritize economic development. This conflict between these two goals shapes nationalist policymaking. This book, based on extensive historical case studies from thirty countries, spans over 250 years and provides a comprehensive overview of economic nationalism. It explores why this thinking has gained influence despite internal contradictions and the mixed record of nationalist policymakers. At the heart of economic nationalism lies its ability to capitalize on economic inequality, both domestically and internationally. Political factors such as empire building, ethnic conflicts, and financial crises reinforce these inequalities, giving rise to powerful nationalist movements that have significantly shaped global trade, migration, and capital flows.

Economic Nationalism: A Historical Perspective

Economic nationalism emerged as a response to the challenges posed by globalization and the rise of multinational corporations. Nationalists argue that the economy should be controlled by national governments to protect domestic industries, jobs, and interests. They prioritize the development of local economies and often promote protectionist policies, such as tariffs and trade barriers, to safeguard against foreign competition.

One of the key features of economic nationalism is its emphasis on national sovereignty. Nationalists believe that countries should have the right to determine their own economic policies and that external forces, such as international trade agreements or multinational corporations, should not be allowed to undermine national interests. This belief is often rooted in a sense of cultural or historical identity, where nationalists view the economy as a reflection of the nation's values and traditions.

However, economic nationalism can also have negative consequences. It can lead to isolationism, as countries prioritize their own interests over those of their trading partners. This can result in reduced economic growth, as trade and investment are stifled, and can also exacerbate economic inequality within countries. Additionally, economic nationalism can undermine international cooperation and stability, as countries engage in ***-for-tat trade measures and political confrontations over economic issues.

Despite these challenges, economic nationalism has continued to be a powerful force in global politics. Nationalist movements have gained support in many countries, particularly in the aftermath of economic crises and political instability. These movements often appeal to people who feel that their voices are not being heard in the global economy and who are seeking to protect their jobs and industries.

In conclusion, economic nationalism is a complex and multifaceted phenomenon that has had a significant impact on global economic policy over the past 250 years. While it can promote economic development and protect domestic industries, it can also lead to isolationism, inequality, and instability. Understanding the roots of economic nationalism and its consequences is essential for navigating the complex global economy of today.

Weight: 742g
Dimension: 162 x 237 x 30 (mm)
ISBN-13: 9781108831383