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Unveiling the Neomercantilist Revolution: A Deep Dive into 'The Neomercantilists: Global Intellectual History'

Roberto Bolaño

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In the ever-evolving landscape of global economics, a profound intellectual shift is underway—the resurgence of neomercantilism. 'The Neomercantilists: Global Intellectual History' offers a comprehensive and pathbreaking exploration of this transformative movement, providing a deep understanding of its origins, key concepts, and far-reaching implications.

The Neomercantilists: A Global Intellectual History

by Eric Helleiner

5 out of 5

Language	:	English
File size	:	1682 KB
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Print length	:	411 pages

The Rise of Neomercantilism: A Global Intellectual Awakening

Neomercantilism emerged as a response to the perceived shortcomings of neoliberal globalization. Its proponents argue that the unrestrained market liberalism of the past decades has led to widening inequalities, environmental degradation, and a decline in national sovereignty. Seeking to address these challenges, neomercantilists advocate for a renewed focus on state intervention, trade protectionism, and industrial policy.

The book traces the intellectual roots of neomercantilism back to the mercantilist thinkers of the 16th and 17th centuries, who argued for state intervention to promote national economic growth. However, it emphasizes that neomercantilism is not a mere revival of these classical ideas; rather, it is a contemporary adaptation that reflects the specific challenges and opportunities of the 21st century.

Key Concepts of Neomercantilism: A Framework for Economic Policy

The central tenets of neomercantilist thought are outlined in the book with clarity and precision. These principles provide a coherent framework for understanding the movement's approach to international trade, monetary policy, and economic development.

Trade Protectionism: In contrast to the free trade orthodoxy of neoliberalism, neomercantilists argue for the use of tariffs, quotas, and other measures to protect domestic industries from foreign competition. This approach aims to foster national industries, create jobs, and enhance economic resilience.
Industrial Policy: Neomercantilists emphasize the importance of state-led industrial policy to promote the development of strategic industries. This involves targeted investment, subsidies, and research and development support to nurture industries deemed vital to national economic interests.
State Intervention: Neomercantilists reject the laissez-faire approach of neoliberalism and advocate for an active role for the state in the economy. This interventionism extends to regulating markets, providing social welfare programs, and implementing policies that promote economic growth and stability.

Implications for the Global Economy: Reshaping International Trade and Development

The book analyzes the profound implications of neomercantilist thinking for the global economy. It examines how the resurgence of protectionism and state intervention is likely to impact international trade, economic growth, and the global financial system.

The book also explores the potential geopolitical consequences of neomercantilism. It discusses how the adoption of neomercantilist policies by major powers could lead to increased trade tensions, economic blocs, and a fragmentation of the global economy.

: A Critical Assessment and Future Prospects

'The Neomercantilists: Global Intellectual History' concludes with a balanced and thought-provoking assessment of the neomercantilist movement. It acknowledges the potential benefits of neomercantilist policies in addressing some of the shortcomings of neoliberalism. However, it also cautions against the risks of excessive protectionism, state intervention, and economic nationalism.

The book emphasizes the need for a nuanced and pragmatic approach to neomercantilism, one that balances the pursuit of national economic interests with the benefits of international cooperation and free trade. It argues that the future of the global economy will depend on the ability of policymakers to navigate these complexities and find a path that promotes sustainable economic growth and shared prosperity for all.

Call to Action: Embracing Neomercantilism as a Catalyst for Economic Transformation

For anyone seeking a deeper understanding of the forces shaping the future of global economics, 'The Neomercantilists: Global Intellectual History' is an indispensable resource. It provides a comprehensive analysis of the origins, key concepts, and implications of the neomercantilist resurgence, equipping readers with the knowledge and insights necessary to engage in informed discussions and make sound judgments about this transformative movement.

As the world grapples with the challenges of economic inequality, environmental sustainability, and national sovereignty, neomercantilism offers a thought-provoking alternative to the limitations of neoliberalism. Embracing neomercantilist ideas as a catalyst for economic transformation can empower nations to chart their own economic destiny and build more resilient, equitable, and sustainable societies.

The Neomercantilists: A Global Intellectual History

by Eric Helleiner

5 out of 5