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National capitalism or corporate nationalism is a political and economic philosophy that expects private enterprise to work mainly towards the national good, rather than solely for profit maximization. In a quid-pro-quo, national policies are expected to favor the large corporations, whose representatives are present in the earliest stages of drawing up legislation. Corporate goals and national ones are seen to coincide.
In such a system, corporations are expected to be profitable, but always in a manner not deemed detrimental to the nation. For example, moving the company to a foreign country would be disapproved of if it were to put workers out of their jobs and raise the unemployment level of the nation, even if it were to cut costs for the company. On the other hand, corporations within the nation would be given a free hand to suppress labor movements (such as unions) that might harm their profits.
In internal affairs, corporate nationalism assigns some roles traditionally in local government's purlieu to corporate entities, or to neutral not-for-profit corporations supported with corporate funds. Such "public/private" ventures have been successful in some areas, like the renovation and maintenance of Central Park in New York City, and have been controversial in other areas, such as public schools. In general, "privatization" has become the umbrella term for such transfers of responsibility.
Ideas proposed by National Capitalism were adopted by many governments since the Industrial Revolution, including some early 20th century governments in Europe and the capitalist-oriented governments in Latin America and Asia after World War II. More generally, the spirit of national capitalism can be seen in any discussion of sub-optimality of corporate decision-making for the cause of the greater national well-being, or simply in the privatization of a local drinking-water plant.
Corporatization is a major aspect of corporate nationalism, a political movement begun under the autocratic rule of Napoleon III, Emperor of the French from 1852 and refined in Italy under Benito Mussolini from 1922.
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- This page was last modified on 13 November 2008, at 14:16.
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