Economic Nationalism: Theory, History and Prospects

摘要: Abstract This article makes both a theoretical and empirical contribution to understanding economic nationalism. It does this first through providing an appropriate definition of the term. Taking issue with generalised remit nationalism in recent writings, it suggests that consists practices create, bolster protect national economies context world markets. definition, subsequent history section identifies nationalism’s rise late 19th century, impetus crisis after 1929 its institutionalisation 1945. Simultaneously, accelerating growth markets greater exports undermined reality economies. This takes us period financial crash 2008. In aftermath, commentators warned resurgence nationalism, is, protectionism. Some states did increase tariff levels but has not led barriers trade pursuit for interrelated reasons: (1) integration therefore interdependency economies; (2) complexity global economy, making all impossible separate by nationality; (3) extensity compared mid-20th century; (4) redundancy various models nationalism. Policy Implications • Economic should be understood as set The 20th century was product crisis, nationalist movements enlarged states. • There been no ‘return nationalism’ protective since 2011. Unlike 1930s, sovereign debt motivated withdraw from markets. • The integration, world’s economy mean reversal great during interwar would entail Armageddon. Whatever future ructions experiences due, above all, chronic debt, policy makers mindful reality. • Simultaneously, they aware ongoing instability may key lesson Second World War is relevant now at more overtly level: importance planning, regulation respect diversity further trade.