New Books in Economics

Eric Helleiner, "The Neomercantilists: A Global Intellectual History" (Cornell UP, 2021)

Oct 29, 2024

In this engaging discussion, Eric Helleiner, a political science professor at the University of Waterloo and author of "The Neomercantilists: A Global Intellectual History," explores the roots and implications of neo-mercantilism. He reveals how this ideology, stemming from diverse global traditions, challenges the Western-centric narrative of economic history. Helleiner highlights influential figures like Mohadev Govind Ranade in colonial India and examines the resurgence of protectionist policies amid contemporary disillusionment with free trade. A captivating look at how history informs present-day economic thought!

52:56

Episode guests

Eric Helleiner

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Quick takeaways

Eric Helleiner explores the diverse origins of neomercantilism, highlighting its historical roots and influential figures beyond the Western narrative.

The resurgence of neomercantilist ideas today reflects growing nationalism and the reevaluation of state-led economic policies in response to globalization challenges.

Deep dives

Understanding Neo-Mercantilism

Neo-mercantilism is defined as a belief system advocating for strategic trade protectionism and government economic activism aimed at promoting state power and wealth. The concept originates from classical mercantilism, which emphasized the interconnectedness of state power and wealth. Unlike capitalism, which can allow free trade without state intervention, neo-mercantilism endorses a more activist role for the government in economic policy. Historical examples such as Japan and China have shown that this approach transcends geographical boundaries and resonates in various contexts.

Intro

2min

Exploring Neo-Mercantilism

18min

Ranade's Economic Vision: Industrialization and Nationalism in Colonial India

5min

Global Perspectives on Neo-Mercantilism

14min

Exploring Neo-Mercantilism in Latin America: Historical Insights and Case Studies

6min

The Rise of Neo-Mercantilism

6min

At a time when critiques of free trade policies are gaining currency, The Neomercantilists: A Global Intellectual History (Cornell UP, 2021) helps make sense of the protectionist turn, providing the first intellectual history of the genealogy of neomercantilism. Eric Helleiner identifies many pioneers of this ideology between the late eighteenth and early twentieth centuries who backed strategic protectionism and other forms of government economic activism to promote state wealth and power. They included not just the famous Friedrich List, but also numerous lesser-known thinkers, many of whom came from outside of the West.

Helleiner's novel emphasis on neomercantilism's diverse origins challenges traditional Western-centric understandings of its history. It illuminates neglected local intellectual traditions and international flows of ideas that gave rise to distinctive varieties of the ideology around the globe, including in Latin America, the Caribbean, Africa, and Asia. This rich history left enduring intellectual legacies, including in the two dominant powers of the contemporary world economy: China and the United States.

The result is an exceptional study of a set of profoundly influential economic ideas. While rooted in the past, it sheds light on the present moment. The Neomercantilists shows how we might construct more global approaches to the study of international political economy and intellectual history, devoting attention to thinkers from across the world, and to the cross-border circulation of thought.

Eric Helleiner is an author and professor of political science and the Faculty of Arts Chair in International Political Economy at the University of Waterloo.

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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