Economic Patriotism

Extracted Attributes

• Goal

  Sustainable and inclusive economic growth

• Focus

  Supporting domestic production and investing in diverse industries and regions

• Scope

  Can encompass different geographical areas and involve transfers between various levels of economic affinity

• Emphasis

  Moral obligation to one's community beyond personal interests

• Rationale

  A nation's productive capabilities are crucial for its security, stability, and overall well-being

• Core Concept

  Prioritizing a region's or nation's economic interests, businesses, and industries

• Alternative Name

  New Economic Patriotism

• Policy Approaches

  Can include a variety of approaches, from protectionist measures to market opening strategies

• Distinction from Economic Nationalism

  Does not necessarily entail strict protectionism, severe immigration restrictions, or abandonment of foreign trade and investment; not zero-sum competition

Timeline

• The concept of New Economic Patriotism gained traction, emphasizing the importance of a nation's productive capabilities for its security, stability, and overall well-being. (Source: wikipedia)

  2020s

Economic patriotism

Economic patriotism, also referred to as New Economic Patriotism, is a term used to describe the practice of making economic decisions that prioritize certain groups, businesses, or industries based on their regional status. It involves favoring the interests of a specific region over personal interests, and implies a moral obligation to the community that supersedes obligations to those outside of it. Economic patriotism can encompass different geographical areas and can involve transfers between various levels of economic affinity. Economic patriotism is not limited to protectionism and can include a variety of policy approaches, from protectionist measures to market opening strategies. Unlike economic nationalism, economic patriotism emphasizes supporting and promoting one's own region's economy without abandoning strategic trade or foreign direct investment and without severely restricting immigration. Into the 2020s, the concept of New Economic Patriotism has gained traction, emphasizing the importance of a nation's productive capabilities for its security, stability, and overall well-being. New Economic Patriotism promotes the idea that nations can build sustainable and inclusive economies without engaging in zero-sum competition or disfavoring other countries' development. Its strategy involves prioritizing domestic production, and investing in diverse industries and regions.

Web Search Results

• Economic patriotism - Wikipedia

  Economic patriotism is not limited to protectionism and can include a variety of policy approaches, from protectionist measures to market opening strategies.

• The Counter to Economic Nationalism is Economic Patriotism - techUK

  ## techUK International Policy and Trade Programme activities New techUK report outlines key policy recommendations to boost the UK’s growth through the tech sector amid global challenges, emphasising resilience, trade leadership, and strategic investment. Senior Policy Manager for International Policy and Trade, techUK Senior Policy Manager for International Policy and Trade, techUK Dan joined techUK as a Policy Manager for International Policy and Trade in March 2023. Sabina Ciofu is International Policy and Strategy Lead at techUK, where she heads the International Policy and Trade Programme. Prior to joining techUK, Lewis worked in government affairs and policy roles for international trade associations in Southeast Asia including the American Malaysian Chamber of Commerce and the European Chamber of Commerce in Cambodia.

• A Plan For Economic Patriotism. By Elizabeth Warren - Medium

  * **Consolidating existing government programs that affect job creation into a new agency with the sole responsibility to create and defend quality, sustainable American jobs.** The new Department — the Department of Economic Development — will replace the Commerce Department, subsume other agencies like the Small Business Administration and the Patent and Trademark Office, and include research and development programs, worker training programs, and export and trade authorities like the Office of the U.S. Trade Representative. **That’s why our government has to care *more* about defending and creating American jobs than ever before — not less.** We can navigate the changes ahead if we embrace economic patriotism and make American workers our highest priority, rather than continuing to cater to the interests of companies and people with no allegiance to America.

• The Revival of Economic Nationalism and the Global Trading System

  This policy reflects an underlying theory of economic nationalism that is fundamentally at odds with the current approach of the multilateral trading system established by the General Agreement on Tariffs and Trade and the World Trade Organization (GATT/WTO). By advocating an “American First” approach, President Trump is rejecting the economic logic of the GATT/WTO and is proclaiming that in the future, the United States will win at the expense of other nations if necessary.21*See* Office of the U.S. Trade Representative, *supra* note 11, at 5–6 (“The Trump Administration . The key conclusion of this Article is that the underlying economic logic of the GATT/WTO in reducing tariffs and increasing trade is still relevant and valid, but that enforcement of the GATT/WTO and its effects in increasing trade volumes is likely to be threatened or may completely collapse due to the revival of economic nationalism and the potential for a trade war.

• The Geopolitical Economy: Nationalism, Populism and a New 'Yes ...

  The toolkit of economic nationalism is equally insidious – protectionism, exclusionary industrial policy, anti-immigration rhetoric and measures, rejection of the constraints imposed by economic orthodoxy, hostility to globalization, and antipathy to rules-based international institutions. Plus, economic nationalism is decidedly not a team sport – it sees the world in zero-sum terms, with policies that are designed to increase domestic competitiveness at the expense of other countries – some intended, some unintended. To this sense of domestic “hollowing out”, and its perceived failure of “the establishment” to respond, you can add widespread concerns that America’s place in the world is being threatened by a rising foreign economic and military power, China, while others, including allies such as Canada and the EU, are viewed as “taking advantage” of the United States.