Explain the idea of economic nationalism. Discuss the main views of its earliest proponents

Economic nationalism refers to an ideology which favors 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.

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, for example 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.

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