Neomercantilism

This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Neomercantilism" – news · newspapers · books · scholar · JSTOR (March 2019) (Learn how and when to remove this template message)

This article includes a improve this article by introducing more precise citations. (March 2019) (Learn how and when to remove this template message )

Neomercantilism (also spelled neo-mercantilism) is a policy regime that encourages exports, discourages imports, controls capital movement, and centralizes currency decisions in the hands of a central government.

Neomercantilism is considered the oldest school of thought in international political economy (IPE).^[2] It is rooted in mercantilism, a preindustrial doctrine, and gained ground during the Industrial Revolution.^[2] It is also considered the IPE counterpart of realism in the sense that both hold that power is central in global relations.^[2] This regime is also associated with corporatocracy particularly during the 1970s when both were treated as components of a functional system and policy goals.^[3] In the United States, neomercantilism was embraced in the late 20th century amidst the move to buttress American industries from Japanese competition.^[4] American thinkers who subscribed to the doctrine, however, include Alexander Hamilton, one of the Founding Fathers of the United States and the first U.S. secretary of the treasury.^[2]

See also

• Developmentalism
• Mercantilism
• Mundell–Fleming model
• New classical macroeconomics

References