CSE EXAM ( UPSC prelims mains) CAPF

🔆Economic Nationalism :

✅ The president has called for ‘economic nationalism’ for India's growth, urging the import of only essential goods to safeguard foreign exchange and jobs. The government champions 'Vocal for Local' as integral to self-reliance, echoing the Swadeshi movement.
Renowned economic thinkers hold diverse views on economic nationalism:
✅ Adam Smith: Supported free trade and specialization for overall economic welfare.
✅ Friedrich List: Advocated protective tariffs and government intervention to foster domestic industries and national strength.
✅ John Maynard Keynes: Favored international cooperation and trade for global economic stability.
✅ Dadabhai Naoroji: Emphasized self-reliance and economic empowerment for India's development, supporting domestic industries.
✅ M. Visvesvaraya: Advocated for industrialization and economic self-sufficiency to strengthen India's economy.

Issues with economic nationalism include:

✅Trade Barriers: Tariffs and trade barriers can trigger trade wars, reducing global trade and harming businesses.
✅ Inefficiency: Shielding domestic industries can lead to inefficiencies and lower-quality products.
✅ Resource Misallocation: Prioritizing domestic industries can lead to misallocation of resources, hindering growth.
✅ Geopolitical Tensions: Economic nationalism can strain international relations and cooperation.
✅Global Economic Instability: Restrictions on trade and investment can disrupt global markets, leading to instability.

#economy
#mains

Join @CSE_EXAM
@upsc_4_economy

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9.27K viewsedited  Aug 28, 2024 at 07:09

🔆Economic Nationalism :

✅ The president has called for ‘economic nationalism’ for India's growth, urging the import of only essential goods to safeguard foreign exchange and jobs. The government champions 'Vocal for Local' as integral to self-reliance, echoing the Swadeshi movement.
Renowned economic thinkers hold diverse views on economic nationalism:
✅ Adam Smith: Supported free trade and specialization for overall economic welfare.
✅ Friedrich List: Advocated protective tariffs and government intervention to foster domestic industries and national strength.
✅ John Maynard Keynes: Favored international cooperation and trade for global economic stability.
✅ Dadabhai Naoroji: Emphasized self-reliance and economic empowerment for India's development, supporting domestic industries.
✅ M. Visvesvaraya: Advocated for industrialization and economic self-sufficiency to strengthen India's economy.

Issues with economic nationalism include:

✅Trade Barriers: Tariffs and trade barriers can trigger trade wars, reducing global trade and harming businesses.
✅ Inefficiency: Shielding domestic industries can lead to inefficiencies and lower-quality products.
✅ Resource Misallocation: Prioritizing domestic industries can lead to misallocation of resources, hindering growth.
✅ Geopolitical Tensions: Economic nationalism can strain international relations and cooperation.
✅Global Economic Instability: Restrictions on trade and investment can disrupt global markets, leading to instability.

#economy
#mains

Join @CSE_EXAM
@upsc_4_economy

BY CSE EXAM ( UPSC prelims mains) CAPF