tags: #economics #capitalism
idea
National capitalism is opposed to global capitalism and is a form of market economy where trade with other countries is limited.
National capitalism prevents loots from looting in other countries ; and so they limit their looting to the nation. It creates a point where looters start devouring each other[2]. This accelerates the gap between rich and poor, and ultimately results in a very instable situation[1][^3].
links
references
[1]: From Cory Doctorow: ref link
National capitalism walls its oligarchs off from the possibility of draining the riches of other countries, limiting them to domestic looting. Eventually, all the wealth in the country is held by its looter class, and the only way they can grow is by attacking each other. No one has more direct, recent experience with this phenomenon than Europe, a wealthy trading bloc of 500m. Trump has demanded that the EU commit 5% of its GDP to building up arms and its standing armies.
This is the first weakness of national capitalism: when powers reach a boiling point, they end up devouring each other.
[3]: Piketty
The second is that the dream of prosperity promised by national capitalism always ends up disappointing public expectations because it is, in reality, built on exacerbated social hierarchies and an ever-growing concentration of wealth