Surviving in the Age of Economic Nationalism: The Price of Protectionism and Neo-Mercantilism
Chapter from the book: Kanbir, Ö. (ed.) 2025. The Age of Economic Nationalism: The End of Globalization?.

Mustafa Acar
Necmettin Erbakan University

Synopsis

There has always been a conflict between two types of economic mentality: free-market vs. command economy. It is actually the reflection of two broader mind-sets in economic reality: moderate-democrat mentality vs. radical-autocratic mentality. Free market system requires individual decision-making, free trade, no government intervention. Command economy system requires collective decision-making, protectionism and heavy government intervention. Recent trade wars launched by the US Administration against China and other countries is nothing but the latest effort revive the mercantilist, protectionist, anti-free trade and open borders mentality. But protectionism brings high costs, lower supply, higher prices, lower welfare, and fewer alternatives for individuals.

How to cite this book

Acar, M. (2025). Surviving in the Age of Economic Nationalism: The Price of Protectionism and Neo-Mercantilism. In: Kanbir, Ö. (ed.), The Age of Economic Nationalism: The End of Globalization?. Özgür Publications. DOI: https://doi.org/10.58830/ozgur.pub911.c3776

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Published

October 23, 2025

DOI