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Capitalisms and Capitalism in the Twenty-First Century$
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Glenn Morgan and Richard Whitley

Print publication date: 2012

Print ISBN-13: 9780199694761

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780199694761.001.0001

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The Revival of Economic Patriotism

The Revival of Economic Patriotism

Chapter:
(p.70) 3 The Revival of Economic Patriotism
Source:
Capitalisms and Capitalism in the Twenty-First Century
Author(s):

Ben Clift

Cornelia Woll

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199694761.003.0004

In the late twentieth century, the rise of neo-liberal economics appeared to some to signal the withdrawal of the nation state from key areas of economic life in the industrialized world. However, this was always an illusion. The recent financial crisis has demonstrated clearly that states remain the actor of last resort when the business system begins to collapse. International efforts at coordination have been dwarfed by the fiscal policies of states to stimulate their economies. These revival efforts reveal the underlying differences which remain between states and how economic policy-making in crisis responds most directly to threats to the national system. This chapter examines these processes and how they can be combined with continued commitment to a neo-liberal global order and efforts at global coordination.

Keywords:   economic patriotism, economic nationalism, international market integration, industrial policy, intervention, mercantilism, regulation

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