Economic patriotism is the coordinated and promoted behaviour of consumers or companies (both private and public) that consists of favoring the goods or services produced in their country or in their group of countries. Economic patriotism can be practiced either through demand stimulation (encouraging consumers to purchase the goods and services of their own country) or through supply protection, the shielding of the domestic market from foreign competition through tariffs or quotas (protectionism). A recently emerging form of economic patriotism is financial protectionism, the hostility against acquisitions by foreign groups by companies considered of "strategic value" for the economy of the country.
Read more about this topic: Economic Nationalism
Famous quotes containing the words economic and/or patriotism:
“A different world can be created or re-created—but not until we stop enshrining the economic values of invisible labor, infinite and obsessive growth, and a slow environmental suicide.”
—Gloria Steinem (b. 1934)
“[James G. Blaine’s] devotion to the public interests, his marked ability, and his exalted patriotism have won for him the gratitude and affection of his countrymen and the admiration of the world. In the varied pursuits of legislation, diplomacy, and literature his genius has added new luster to American citizenship.”
—Benjamin Harrison (1833–1901)