What Is Nationalism?

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6. Economic Nationalism

Economic nationalism is an ideology that supports the intervention of a nation’s economies by the state. This can mean the state taking control of labor and the economy even when it means imposing restrictions on free trade. It is often associated with protectionism, which means limiting imports to protect domestic industries.

Economic nationalism does sometimes take place even in nations where free trade is encouraged. For example, if a major domestic industry is the subject of a takeover by a foreign company, the government may step in to block the sale. Reasons can range from protecting jobs, to ensuring the nation maintains a presence in certain sectors.

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