Economic nationalism is a term that refers to a set of policies and practices aimed at protecting and promoting a country’s economy and industries. This concept is based on the belief that a nation’s economic interests should take precedence over global economic considerations.

Category : Word Clarifications es | Sub Category : Posted on 2025-11-03 22:25:23

At its core, economic nationalism involves prioritizing the well-being of a country's domestic industries, workers, and businesses through various means such as trade barriers, import quotas, subsidies, and government regulations. Proponents of economic nationalism argue that these measures are necessary to safeguard domestic production, create jobs, and maintain national sovereignty. One of the key goals of economic nationalism is to reduce a country's dependence on foreign goods and services. By limiting imports and promoting domestic industries, proponents believe that a nation can protect its economy from the risks of global competition and ensure economic stability and growth. However, critics of economic nationalism argue that such policies can lead to inefficiencies, higher prices for consumers, and trade conflicts with other nations. They argue that free trade and globalization can bring about increased efficiency, innovation, and overall economic prosperity. Overall, economic nationalism is a complex and multifaceted concept that continues to be a subject of debate among economists, policymakers, and the general public. While it seeks to protect and promote a country's economic interests, its impact on global trade and economic relations remains a highly contested issue.