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:
“In our personal ambitions we are individualists. But in our seeking for economic and political progress as a nation, we all go up—or else all go down—as one people.”
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