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

Examples of economic nationalism in a Sentence

Recent Examples on the Web
These examples are automatically compiled from online sources to illustrate current usage. Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
As part of his economic nationalism, Trump has called for a 20% across-the-board tariff on all imports, a 60% duty on Chinese goods, and a punitive tax on U.S. companies that ship jobs overseas. Ajay K. Mehrotra / Made By History, TIME, 29 Oct. 2024 Here’s the reality: one party, the G.O.P., ditched its establishment, embraced a form of economic nationalism and populism, and surprised everybody by winning a Presidential election. Nicholas Lemann, The New Yorker, 28 Oct. 2024 Once ignited, the flames of economic nationalism are difficult to contain. Kristen Hopewell, Foreign Affairs, 7 Oct. 2024

Word History

First Known Use

1897, in the meaning defined above

Time Traveler
The first known use of economic nationalism was in 1897

Dictionary Entries Near economic nationalism

Cite this Entry

“Economic nationalism.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/economic%20nationalism. Accessed 8 Nov. 2024.

Last Updated: - Updated example sentences
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