Ask Prof Wolff: What Is Economic Nationalism?

A Patron of Democracy at Work asks: "I would like Prof to explain what the meaning of Economic Nationalism is and provide examples of past and present systems."

This is Professor Richard Wolff's video response.

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“Marxism always was the critical shadow of capitalism. Their interactions changed them both. Now Marxism is once again stepping into the light as capitalism shakes from its own excesses and confronts decline.”

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Follow Wolff ONLINE:

[Shining]

❤️ Professor Wolff - for having the courage 💪 to speak the TRUTH 🥰

[Joy]

We Love Professor Richard Wolff for speaking the truth. We always watch jis videos. May God Bless him. All must watch this video & appreciate. Thank You.

[bryansmith]

Wolff - get this straight - thank you so much Sir for all your efforts to help our country and our entire species. A heart felt message Sir.

[ilhamrahim]

Anybody interested in this should read Ha joong chang’s book kicking the ladder down

[mikeryan]

What is it called when congress uses tax payer dollars to incentivize the out sourcing of American jobs? Economic rigging, so the corporate campaign contributors can increase profits and American workers can loose their family supporting jobs, and leave them to compete for $7.25 per hour jobs.

[yokoono]

😇Imagine communities: Ben Anderson said! 😇🤩😎

[regalmedia]

prof wolff. take care of your health. you got atleast 5 books in you. we need you around for a long time.

[christophertadeo]

But what about slapping tariffs, thats protectionism too... 😳

[headsails]

American exceptionalism. Nationalist corporatism.

[codewithbre]

its about sharing nations wealth privately. isnt it?

[acenariomanuel]

Love your work. What are the top 100 knowledge books to read before I die?

[jillfryer]

The US 'don't have colonies anymore'? what do you call Australia, the other piece of AUKUS/ USUKAS - the UK? Colonies, just like Guam. Philipines, ? somewhere in the Caribbean winds blow?

[TheNoblot]

Ends & means simple: nigérian society needs improvement they export petrol the value of their currency are related to the needs of the nation and their economical natural resources, the Saudi Kingdom has a smaller population, reduction of their output or devalue of the national currency they obtain by selling petrol by the new global reserve currency. the center point of balance between natural resources energy and social conditions and value. To allow individuals to exist that can balance a more balanced prosperity for the many. A central point for a human balance.

[willjoful]

Infant industry was called slavery of my ancestors, and many more black folks family slavery.

[Robert_McGarry_Poems]

Wikipedia: Territories* of the United States. These colonies, (*the US wrote a law, changing the legal word colony to territory... a rose by any other name.) differ from such entities as true states and reservations, in such that 'they' (meaning the colonies...) are not sovereign. States are independent countries, as _should_ be the case for Native American reservations. These colonies are NOT.

Meaning...that those lands and people are "owned and controlled, " by the Federal government. They are not co-equal, they do not have true legal autonomy (or they would be either states or sovereign.), and they do not have representatives in Congress let alone vote for President. We control, but do not aid them... Sure sounds like feudalism for some... ?pseudo Americans?! ?Slaves?! How about the agreeable, NOT FREE.

[AgentMoler]

I think you did a good job of explaining in the most basic way this concept but your analysis of it isn't quite true. Economic Nationalism/Protectionism isn't a redundant or silly concept at all. What has happened with Globalism/free trade is that the corporations and individuals that are the most wealthy and powerful have benefitted the most. The measure that most people use to evaluate the success of free trade is the price of consumer goods. Indeed, the price of consumer goods has gone down tremendously while the cost of things like housing has gone up significantly. There have also been whole sectors of the economy in the US that have been downgraded from middle class to lower class work (unskilled and semi skilled labor), which has downgraded the standard of living of many people. Free trade has relied on sacrificing the standard of living of the lower and middle class in order to enrich the upper middle and wealthy classes. The whole concept of everyone going to college and having highly skilled/knowledge economy jobs is ridiculous. Even in countries with highly educated citizens and free college, you will have a permanent class of skilled unemployed/underemployed that can either stay in their country and work a low wage job they are overqualified for or get on welfare and waste their potential. I do agree that there will be an increase in tensions globally due to countries voting for more Economic Nationalism (this has been happening in Europe for about a decade), but I do believe that the frameworks already exist for countries to ally and cooperate on the basis of mutual benefit vs the vague idea of working towards some supranational entity or global government which facilitates dependencies on other countries for basic goods such as energy and food. When the founders warned us of having permanent alliances, I wonder if they foresaw what dangers might arise besides just constantly being at war. The danger of dependency and lack of internal stability might be just as dangerous.

[clarestucki]

It's a law of Economics that free trade benefits all parties involved. Textbooks explain it as the "law of comparative advantage", where every person every region, every nation, specializesin the production of the things they can do the most efficiently, and every body trades with everybody else.

[urimtefiki]

Economic nationalism is good, every nation should do that.

[icemike]

These fools gave their manufacturing politicians and corporations in bed together

[Googlag]

Professor, what is culinary nationalism?) I think you are confusing two different concepts.