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Economic nationalism

News Ethno-linguistic and "Cultural" Nationalism as a reaction to Neoliberalism induced decline of standards of living Recommended Links Non-Interventionism Anti-globalization movement US anti war movement Bannon
Neoliberalism Neocolonialism Neoliberal Globalization American biblical nationalism and religious far right American Exceptionalism Predator state Color revolutions
Secular Stagnation under Neoliberalism Who Rules America Neoliberalism as Trotskyism for the rich TTP, NAFTA and other supernational trade treates Brexit as the start of the reversal of neoliberal globalization Immigration, wage depression and free movement of workers Debt slavery
American Imperialism, Transnational Capitalist Class and Globalization of Capitalism Merchants of Debt Greece debt enslavement Eroding Western living standards Ukraine debt enslavement IMF as the key institution for neoliberal debt enslavement Wolfowitz Doctrine
Donald Trump -- an unusual fighter against excesses of neoliberal globalization Pope Francis on danger of neoliberalism National Security State Demonization of Putin Anatol Leiven on American Messianism Neoliberalism and Christianity The Far Right Forces in Ukraine as Trojan Horse of Neoliberalism
The art of manufacturing of prisoners of consciousness Media-Military-Industrial Complex Machiavellism Philippics    John Kenneth Galbraith Humor Etc
 
The populist ethno-nationalists in the Trump White House do not believe in this order. Their critique — which is simultaneously moral, religious, economic, political and racial — is nicely summarized in the remarks Steve Bannon made to a Vatican conference in 2014.

Once there was a collection of Judeo-Christian nation-states, Bannon argued, that practiced a humane form of biblical capitalism and fostered culturally coherent communities. But in the past few decades, the party of Davos — with its globalism, relativism, pluralism and diversity — has sapped away the moral foundations of this Judeo-Christian way of life.

Humane capitalism has been replaced by the savage capitalism that brought us the financial crisis. National democracy has been replaced by a crony-capitalist network of global elites. Traditional virtue has been replaced by abortion and gay marriage. Sovereign nation-states are being replaced by hapless multilateral organizations like the E.U.

Bannon Versus Trump - The New York Times

“I want to bring everything crashing down, and destroy all of today’s establishment.” Is this what got Donald Trump elected? Steve Bannon, Donald Trump's selection for White House chief strategist, says he's an "economic nationalist". Unlike most nationalists he rejects enthonationalism and rasism. In this sense he is closer to "cultural nationalists". For Bannon Us citizenship is defining feature of "belonging to the club". 

For approximately half a year Bannon was the "Make America Great Again" guy in the White House. Then he was ousted by MIC wing of Trump cabinet. 

Economic nationalism includes some key populist ideas:  Jobs, jobs, jobs,  infrastructure investments, immigration limits, rejection of neoliberal globalization (which paradoxically included taxing transnationals).

In an interview with the Wall Street Journal, Bannon, a former Breitbart News executive, cast himself as an opponent of "globalism" -- including free trade deals. 

"And I have admired nationalist movements throughout the world, have said repeatedly strong nations make great neighbors. I've also said repeatedly that the ethno-nationalist movement, prominent in Europe, will change over time. I've never been a supporter of ethno-nationalism."

Bannon has been a target of Democratic criticism since his selection by Trump. Many liberals have pointed to incendiary Breitbart headlines -- items that mock "trannies," labeled Weekly Standard editor Bill Kristol a "renegade Jew" and more -- in urging Trump to cut ties with Bannon.  He  ismissed that criticism, casting it as disappointment from Democrats who expected Trump to lose. "They were ready to coronate Hillary Clinton. That didn't happen, and I'm one of the reasons why. So, by the way, I wear these attacks as an emblem of pride," he said.

He also cast Breitbart as "edgy" but "vibrant," and said, "Our definition of the alt-right is younger people who are anti-globalists, very nationalist, terribly anti-establishment."

From Wikipedia

Economic nationalism refers to an ideology favoring policies that emphasize domestic control of the economy, labor, and capital formation, even if this requires the imposition of tariffs and other restrictions on the movement of labor, goods and capital. In many cases, economic nationalists oppose globalization or at least question the benefits of unrestricted free trade. Economic nationalism may include such doctrines as protectionism, mercantilism, or import substitution.

U.S. Trade Balance (1895–2015)

Governments have traditionally had a strong interest in preserving their economic, and therefore political, strength, and have therefore sought to use the tools at their disposal, particularly tax structure and discretionary spending, to stimulate economic growth. This was especially true when warfare was endemic in the early-modern period: a strong economy often meant the difference between political independence, and conquest by a foreign power. This resulted in the economic system generally known as mercantilism.
The Italian City State of Venice designed its whole economy around expanding its national power. For example, Venice mandated that all trade carried on Venetian ships must stop in Venice, regardless of its origin and destination. This guaranteed Venice a bigger share of any profits made in the spice trade. Although this was less economically efficient, the cost was passed onto consumers, while Venice benefited from its position as middleman. Venice also only imported raw materials, leaving the refining and processing to be done by Venetian craftsmen. The success of this strategy was noted by a prominent Venetian businessman:


Nothing is better to increase and enrich the condition of our city than to give all liberty and occasion that commodities of our city be brought here and procured here rather than elsewhere, because this results in advantage both to the state and to private persons.[1]
Great Britain pursued economically nationalistic policies during the seventeenth and eighteenth centuries. The two pillars of its economic strategy were: (1) high tariff rates and (2) acquiring new markets for its products. In the mid-1700s, the average tariff rate in Britain was 30%, by the 1820s it had grown to 57%.[2] This shut out foreign manufactured goods from British markets, and was one of the primary conditions enabling the Industrial Revolution.
Canada also practiced economic nationalism known as the National Policy Conservative governments in Canada, such as those of Sir John A. Macdonald, Sir Robert Borden, R. B. Bennett, and John Diefenbaker, were known for supporting an active role for government in the economy of the creation of government-operated businesses (early Crown Corporations such as the Canadian National Railway) to develop and protect Canadian industries, protectionist programs such as the National Policy. It lasted from 1879 until sometime in early 1950s.

Modern examples

Examples of this include Henry Clay's American System, French Dirigisme, Japan's use of MITI to "pick winners and losers", Malaysia's imposition of currency controls in the wake of the 1997 currency crisis, China's controlled exchange of the yuan, Argentina's economic policy of tariffs and devaluation in the wake of the 2001 financial crisis and the United States' use of tariffs to protect domestic steel production.

As a policy is a deliberate system of principles to guide decisions and achieve rational outcomes, the following list of would be examples of an economic nationalistic policy, were there a consistent and rational doctrine associated with each individual protectionist measure:

The reason for a policy of economic protectionism in the cases above varied from bid to bid, In the case of Mittal's bid for Arcelor, the primary concerns involved job security for the Arcelor employees based in France and Luxembourg. The cases of French Suez and Spanish Endesa involved the desire for respective European governments to create a 'national champion' capable of competing at both a European and global level. Both the French and US government used national security as the reason for opposing takeovers of Danone, Unocal, and the bid by DP World for 6 US ports. In none of the examples given above was the original bid deemed to be against the interests of competition. In many cases the shareholders supported the foreign bid. For instance in France after the bid for Suez by Enel was counteracted by the French public energy and gas company Gaz De France the shareholders of Suez complained and the unions of Gaz De France were in an uproar because of the privatization of their jobs.

Trumponomics

More recently, the emergence of Trumponomics in the United States in the wake of the United States presidential election, 2016 was considered by some as a (partial) return to the economic nationalism of the Theodore Roosevelt Era.[14]

Economic patriotism

Economic patriotism is the coordinated and promoted behaviour of consumers or companies (both private and public) that consists of favoring the goods or services produced in their country or in their group of countries. Economic patriotism can be practiced either through demand stimulation (encouraging consumers to purchase the goods and services of their own country) or through supply protection, the shielding of the domestic market from foreign competition through tariffs or quotas (protectionism). A recently emerging form of economic patriotism is financial protectionism, the hostility against acquisitions by foreign groups of companies considered of "strategic value"[15] for the economy of the country.

Objectives

The objective is to support economic activity and promote social cohesion. The supporters of economic patriotism describe it as a kind of self-defence of local economic interests (national or supranational in case of the countries of the European Union). Some manifestations of economic patriotism are attempts to block foreign competition or acquisitions of domestic companies. An often cited example is France, where economic patriotism was the main rationale used in the Pepsico-Danone, Mittal-Arcelor, and GDF-Suez affairs.

In the United States, an example of economic patriotism would be the numerous bumper stickers: "Be American, Buy American".

Criticism

Consumer preference for local goods gives local producers more market power, affording them the ability to lift prices to extract greater profits. Firms that produce locally produced goods can charge a premium for that good. Consumers who favor products by local producers may end up being exploited by profit-maximizing local producers.[16] For example; a protectionist policy in America placed tariffs on foreign cars, giving local producers (Ford and GM market) market power that allowed them to raise the price of cars, which negatively affected American consumers who faced fewer choices and higher prices.[17]

Locally produced goods can attract a premium if consumers show a preference towards it, so firms have an incentive to pass foreign goods off as local goods if foreign goods have cheaper costs of production than local goods.[16] This is a viable strategy because the line between foreign-made and locally-made is blurry. However, as supply chains expand globally, the definition of local goods becomes hazy. For example, while a particular car may be assembled in America, its engine may be made in another country such as China. Furthermore, while the engine may be made in China, the engine's components may be imported from several other countries: the pistons may come from Germany and the spark plugs may come from Mexico. The components that make up the spark plugs and pistons may come from different countries and so on.

Bannon Versus Trump - The New York Times

The populist ethno-nationalists in the Trump White House do not believe in this order. Their critique — which is simultaneously moral, religious, economic, political and racial — is nicely summarized in the remarks Steve Bannon made to a Vatican conference in 2014.

Once there was a collection of Judeo-Christian nation-states, Bannon argued, that practiced a humane form of biblical capitalism and fostered culturally coherent communities. But in the past few decades, the party of Davos — with its globalism, relativism, pluralism and diversity — has sapped away the moral foundations of this Judeo-Christian way of life.

Humane capitalism has been replaced by the savage capitalism that brought us the financial crisis. National democracy has been replaced by a crony-capitalist network of global elites. Traditional virtue has been replaced by abortion and gay marriage. Sovereign nation-states are being replaced by hapless multilateral organizations like the E.U.

Decadent and enervated, the West lies vulnerable in the face of a confident and convicted Islamofascism, which is the cosmic threat of our time.

In this view, Putin is a valuable ally precisely because he also seeks to replace the multiracial, multilingual global order with strong nation-states. Putin ardently defends traditional values. He knows how to take the fight to radical Islam.

It’s actually interesting to read Donald Trump’s ideologist, Bannon, next to Putin’s ideologist Alexander Dugin. It’s like going back to the 20th century and reading two versions of Marxism.

One is American Christian and the other orthodox Russian, but both have grandiose, sweeping theories of world history, both believe we’re in an apocalyptic clash of civilizations, both seamlessly combine economic, moral and political analysis. Both self-consciously see themselves as part of a loosely affiliated international populist movement, including the National Front in France, Nigel Farage in Britain and many others. Dugin wrote positively about Trump last winter, and Bannon referred to Dugin in his Vatican remarks.

“We must create strategic alliances to overthrow the present order of things,” Dugin has written, “of which the core could be described as human rights, anti-hierarchy and political correctness — everything that is the face of the Beast, the Antichrist.”

“We, the Judeo-Christian West, really have to look at what [Putin] is talking about as far as traditionalism goes,” Bannon said, “particularly the sense of where it supports the underpinnings of nationalism.”

Last week’s intelligence report on Russian hacking brought the Republican regulars, like John McCain and Lindsey Graham, into direct conflict with the ethno-nationalist populists. Trump planted himself firmly in the latter camp, and dragged Fox News and a surprising number of congressional Republicans with him.

If Trump were as effective as Putin, we’d probably see a radical shift in American grand strategy, a shift away from the postwar global consensus and toward an alliance with various right-wing populist movements simmering around the globe.

But Trump is no Putin. Putin is theological and cynical, disciplined and calculating, experienced and knowledgeable. When Bannon, Michael Flynn and others try to make Trump into a revolutionary foreign policy president, they will be taking on the entire foreign policy establishment under a leader who may sympathize with them, but is inattentive, unpredictable and basically uninterested in anything but his own status at the moment.

I’m personally betting the foreign policy apparatus, including the secretaries of state and defense, will grind down the populists around Trump. Frictions will explode within the insanely confusing lines of authority in the White House. Trump will find he likes hanging around the global establishment the way he liked having the Clintons at his wedding. In office he won’t be able to fixate on ISIS but will face a blizzard of problems, and thus be dependent on the established institutions.


Garrett Lin, Florida January 10, 2017

Taking Bannon at his word in interviews, his goal for the GOP is not to build a party of 'ethno-nationalism,' but one of 'economic nationalism,' (read: globally competitive nationalism) rooted in robust economic growth for all Americans--a true populism inclusive of Americans of all 'identities,' all of whom, in fact, have a vested interest that the US maintain geopolitical strength enough to match the manufacturing base of China.

Bannon's "Judeo-Christian West," can be read separately from his 'American Nationalism,' but they are not entirely exclusive. Bannon knows the US Constitution was a development of Enlightenment-era ideals of Protestant Western nations, and thus, all Americans who live under this document do, indeed, share in the heritage of the US as a nation of Western society. That is the connection. Ethnicity has nothing to do with it.

If Bannon intended to build some sort of (implicitly white) 'ethno-nationalism,' would his campaign have scheduled the 'Hindu-Americans for Trump' event, which took place last October, as an example? I think not.

Bannon knows who his audience is. He knows how that provocative headlines raise the hair of moralist puritans. Of course he knows to emphasize the 'Judeo-Christian' West when addressing the Vatican. And indeed he also knows that running the United States of America is different than delivering a keynote to a few priests.

Nothing at all to do with petty value judgments, the relative morality of capitalism, etc.


 


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