Economic patriotism
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Economic patriotism is the 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. It can be thought as business intelligence in favour of their country.
This approach may be either approach stimulating (promoting the economy of the country) or recessing (protectionism). A recent aspect is the development of financial protectionism, the hostility against acquisitions by foreign groups by companies considered of "strategic" value for the economy of the country.
Objectives
The objective is to support economic activity and promote social cohesion. The supporters of economic patriotism describe it as a kind of self-defence of local economic interests (national or European in case of the countries of the European Union). Some methods of economic patriotism seek to block foreign competition or acquisitions of domestic companies. An often cited example is France, where economic patriotism was the main rationale used in the Pepsico-Danone, Mittal-Arcelor, and GDF-Suez affairs.
In the United States, an example of economic patriotism would be the numerous bumper stickers: "Be American, Buy American".
External links
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