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Economic Patriotism

Economic patriotism is a term that gained political currency after 2000 due to increasing globalization and the 2008 global financial crisis. The term traces to at least 1985 with journalist William Safire, concerning national defense spending. The term can have two different meanings, the first substantively explaining why a government and the second rhetorically arguing why a corporation has a primary duty to its country’s welfare rather than to global welfare or enterprise profit. The first interpretation is synonymous with economic nationalism, defined as some combination of industrial policy and protectionist policy aimed at asserting partial governmental control of a nation’s economy to offset negative effects of free trade in a global economy. This first interpretation is associated particularly with western Europe, China, India, and ...

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