State and National Interest: The Economic Side
State and National Interest: The Economic Side

Author(s): Vladimir Gligorov
Subject(s): Politics / Political Sciences, Politics, Economy, National Economy, Governance, Public Administration
Published by: CEDET Centar za demokratsku tranziciju
Keywords: nationalism; Lord Acton; mercantilism; populism; oligarchic economy regime; unsustainable economic policy
Summary/Abstract: Lord Acton’s idea that nationalism is irrational, because it aspires towards unattainable goals, is of special significance in economic nationalism, as it holds no means to secure economic efficiency in international economic relations. In addition to inefficiency in a small state and economy, economic nationalism leads to the formation of an oligarchic economy regime. Traditionally, economic nationalism is mercantile, striving for a surplus in foreign trade. In Serbia, as a consequence of political instability, it is populist. Thus, Serbian economic nationalism counts on foreign financing. In the medium run, this is unsustainable, thus a significant change in economic policy will be needed: either towards liberalization, or towards further isolation.

• Details
• Contents