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Governing GlobalizationIssues and Institutions$
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Deepak Nayyar

Print publication date: 2002

Print ISBN-13: 9780199254033

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199254033.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 27 November 2021

Nationalism and Economic Policy in the Era of Globalization

Nationalism and Economic Policy in the Era of Globalization

(p.19) 2 Nationalism and Economic Policy in the Era of Globalization
Governing Globalization

Amit Bhaduri

Oxford University Press

Nationalism is a complex notion, which encompasses society, the state, and the economy. It comprises a complex nexus of multiple loyalties of an individual as a member of the society, duties and rights of the citizen in a reciprocal political arrangement with the state, and the role of the individual as a producer and consumer in the economy. While the balance among these different aspects of nationalism evolved historically, in the present area of globalisation this balance seems to be shifting in favour of global market forces. Its consequences for the nation state, and the new role that it needs to define for itself, especially in terms of economic policy, is the theme of this chapter. Through several centuries in Western political philosophy, the relationship between the political authority of the state and the historical formation of the society, viewed as the voluntary association of individuals, posed a major problem.

Keywords:   nationalism, society, state, economy, globalisation, market forces, nation state, economic policy

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