Economic patriotism: the transformation of economic governance in 21st century capitalism

Ben Clift

Chapter 7 in Handbook of Economic Nationalism, 2022, pp 100-121 from Edward Elgar Publishing

Abstract: This chapter explores the concept of economic patriotism (EP), and demonstrates its worth as a complement to economic nationalist analyses. EP's account of state/market relations, the transformation of economic governance in the 21st Century, and the politics of market-making is distinct from economic nationalism, neo-mercantilism, and Realist International Political Economy. EP reflects profound if not self-evident contradictions between international market integration and spatially limited political mandates, and highlights the limits of democratic control over market outcomes and the economy. EP offers a framework for understanding differentiated, multi-faceted and multi-levelled economic interventions in pursuit of the interests of territorial insiders. The discussion uses EP as a lens to make sense of rising anti-system politics and the populist backlash against globalism. The roots of this backlash are a profound disjuncture – that EP lays bare -between politicians' promises about 'control' over economy and the much more complex realities of 21st century economic governance.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2022
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