Economic Patriotism in Open Economies
Ben Clift, Cornelia Woll (eds.)
The recent financial crisis has demonstrated more than ever that governments seek to steer their economies rather than surrendering to the free play of market forces. Despite the ambitions of international economic cooperation, such interventionism is decidedly local. Some politicians even proudly evoke "economic patriotism" to justify their choices.
This volume links this phenomenon to a specific set of tensions between economic and political boundaries – the paradox of neo-liberal democracy – and argues that political interventionism in open markets is ubiquitous. The mandate of politicians is to defend the economic interests of their constituents under conditions where large parts of economic governance are no longer exclusively within their control. Economic patriotism is one possible reaction to this tension. As old-style industrial policy and interventionism gained a bad reputation, governments had to become creative to assure traditional economic policy objectives with new means.
However, economic patriotism is more than just a fashionable word or a fig leaf for protectionism. This volume employs the term to signal two distinctions: the diversity of policy content and the multiplicity of territorial units it can refer to. Comparing economic interventionism across countries and sectors, it becomes clear that economic liberalism will always be accompanied by counter-movements that appeal to territorial images.
1 Economic patriotism: reinventing control over open markets
Ben Clift and Cornelia Woll
2 Supranational governance as economic patriotism? The European Union, legitimacy and the reconstruction of state space
3 From nationalism to European patriotism? Trade unions and the European works council at General Motors
4 Homespun capital: economic patriotism and housing finance under stress
5 Supporting the City: economic patriotism in financial markets
6 The phantom of Palais Brongniart: economic patriotism and the Paris Stock Exchange
Helen Callaghan and Paul Lagneau-Ymonet
7 Cities as national champions?
Colin Crouch and Patrick Le Galès
8 Economic patriotism in European agriculture
9 European armament co-operation and the renewal of industrial policy motives