New Economic Patriotism promotes the idea that nations can build sustainable and inclusive economies without engaging in zero-sum competition or disfavoring other countries' development.
[2] US Representative Ro Khanna has advocated for a New Economic Patriotism plan to restore American manufacturing and technology leadership, and to respect workers who will help achieve that goal.
He emphasizes that pride in the country involves recognizing the potential and creative powers of its people, and advocates for policies that provide free or affordable education, medical access, childcare, housing, food, and job and retirement security for all citizens.
[5] As an advocate for a New Economic Patriotism, Khanna asserts that the country's failed trade policies with China have led to the loss of millions of good-paying jobs and disproportionately harmed both urban Black and rural small city manufacturing workers.
He argues that the federal government should partner with the private sector to finance upgrading factories in manufacturing regions with low or zero-interest loans.
The plan would also establish a National Economic Development Council to bring together different agency heads, economists, and business and education leaders to ensure that key components of supply chains are done in the US or cooperating partners.
The company's activities generate significant benefits for Poland's economy, supporting other businesses and entire sectors while also contributing to the state budget as well as upholding the overall standard of Polish brands.
[7] Ukrainian president Volodymyr Zelenskyy announced in February 2022 that he would take steps to improve the nation's defense readiness, which would entail implementing a bundle of new measures aimed at promoting economic patriotism and bolstering domestic industries.
Among the measures were tax breaks and a stimulus program intended to encourage manufacturers and banks to stay in Ukraine and contribute to the country's financial growth.
[11] In 2012, the phrase made a comeback in the context of the reelection campaign of Obama, who used it to promote policies focused on middle class jobs, education and training, growing small businesses, and innovation.
[15] In 2007, Alistair Darling, the new chancellor of the Exchequer in Britain, criticized the then French president Nicolas Sarkozy's policy of nurturing national industrial champions, which he referred to as economic patriotism.
They argued that the tax cuts introduced as part of the economic patriotism incentive would help improve France's competitive position while still adhering to their European obligations.