There are fundamental commonalities in the way nationalists view the economy and these commonalities are important enough to speak of a distinct nationalist approach to economic thought and policy. This does not mean all nationalists think and act in the same way – many policy positions are hotly contested among nationalists. But it does mean that nationalists choose their economic aims from a common menu. This introduction develops a conceptual framework to investigate this policy menu. I argue that the basic options on this menu are, firstly, isolation from the world economy, and secondly, economic expansion. Attempts to overcome the potential conflict between these two aims drives much of nationalist policy making. The introduction then focusses on solutions nationalists have used to overcome this dilemma through compromise, regulation, political reform, or imperial expansion. It proceeds to discuss the degree to which these choices are determined by interests or ideas, and finishes by analysing how such ideas are commonly translated into policy.

The conclusion draws the historical threads together and explains the causes of economic nationalism. It is most useful to think of nationalists as reacting to economic inequality. If inequality occurs between nations, we are more likely to witness expansionist ideas gain prominence. If inequality occurs within nations and is blamed on integration with the world economy, this is most likely to give rise to isolationist ideas. Both kinds of economic inequality are often accentuated by political inequalities. The motive for catch-up growth becomes more pressing if the nation is seen as politically subordinate within a system of imperial rule. Domestic inequalities are frequently given salience if they correspond to ethnic divisions within society. Based on these insights, the conclusion casts its gaze forward and predicts that both strands of economic nationalism will continue to shape economic policy in the near future.