• increase state power and security. Import restrictions, exports encouraged.
• Chronologically oldest economic perspective, dating back to the emergence of the nation-state 1648
• Hamilton-List

• Exports up, imports down;
• done thru protectionism and colonialism
• Hamilton-List

• national interest is the determinant of state behavior
• emphasizes state efforts to act in their own interest.

• interdependence and globalization
• post WWII
• Protectionist policies to generate welath and stregnthen national security
• NTBs
• strategic trade

state-planned strategy to promote certain businesses

Ex: land enclosure acts, monopoly rights for businesses and corporate espionage

people's strong sense of identification with and loyalty to their nation-state

After 1870 renewed mercantilism allowed to economic nationalism to gernerate a second wave of imperialism

government regulations preventing imports

1970s = import quotas

• Export quotas
• import quotas
• export subsidies
• currency devaluation

import quotas

limiting import quantities, price goes up while restricting competition

Example of a NTB