economic nationalism

noun

plural economic nationalisms

: a protectionist ideology or policy that aims to foster and shape a national economy by promoting domestic industries and by shielding domestic producers from foreign competition

Economic nationalism frames the economy primarily in terms of the nation, much like political nationalism does with the polity. The economy exists primarily to serve the nation … .

—Dani Rodrik

On one level, economic nationalism is associated with protectionism. Policies like tariffs, subsidies and import-quotas seek to protect companies and industries in a given nation from foreign competition. In other instances, economic nationalists have argued that emerging domestic industries require protection from foreign competition until they have become sufficiently stable.

—Samuel Gregg

The Great Depression of the 1930s had exacerbated economic nationalism and spurred protectionism. Given the problems of post-war reconstruction, many nations in Western Europe were not yet prepared to accept freer trade and expose themselves to American competition.

—T. E. Vedney

economic nationalist noun

plural economic nationalists

Word History

First Known Use

1897, in the meaning defined above