Economic Nationalism

Nothing is more economically backward and chauvinistic than the notion of economic nationalism,an ugly virulent form of racism. The state steps in to stop a company merger with a foreign competitor cheered on by the xenophobic press and everyone applauds but this anti capitalist nativism is economically destructive and a recipe for economic disaster. Globalisation has raised billions of people out of poverty but to turn inwards and eschew interaction and interpenetration with foreign companies will only lead to financial sclerosis and poverty and the country that indulges in it is signing its own death warrant.