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0You are listening to Curiosity Curated. I am Zong.
In recent years, the ever-intensifying geopolitical and economic rivalries between major powers have made it impossible to ignore them, and the cooperative spirit that once seemed to characterize the global order feels increasingly strained.
We see this reflected clearly in news headlines dominated by trade disputes, new industrial policies like the CHIPS Act in the US and Europe, and nations increasingly prioritizing economic security over traditional free market principles.
Since Trump's Liberation Day tariffs, world leaders and experts, including Ray Dalio and Singapore PM Lawrence Wong, have warned about the collapse of the post-war liberal world order. If this system is indeed breaking down, what’s replacing it? Is this something new, or are we seeing the return of older ideas?
Today, we're diving into the intellectual history of an ideology that seems to be making a comeback: neomercantilism. We’ll explore what it is, where it came from, why it seemed to fade into the background for a while, and why it's so relevant again today. Our exploration draws primarily from Eric Helleiner's book "The Neomercantilists," along with recent analyses from Phenomenal World and the Center for Strategic and International Studies (CSIS). Helleiner is a professor of political science at the University of Waterloo.
We'll start by defining this often-misunderstood term. Then, we’ll trace its appearances throughout history, across different countries and circumstances. We’ll look at the unique period after World War II when a different, more liberal, order took center stage. And finally, we’ll explore why many observers believe we are now living in a new "neomercantilist moment.”
00:37 Episode Intro
03:00 What Is Neomercantilism? Defining the Idea
06:33 Global Origins and Thinkers
09:44 Neomercantilism Through History - An Enduring Impulse
10:46 The Neomercantilist Moment in Meiji Japan (Late 19th Century)
13:45 The Neomercantilist Moment After the Napoleonic Wars (Early 19th Century)
16:35 Neomercantilism in Advanced Economies
20:42 The Post-WWII Liberal Exception
26:12 The Neomercantilist Resurgence? The 21st Century Moment
29:30 Conclusion
Sources:
The Neomercantilists by Eric Helleiner
The Revival of Neomercantilism, Eric Helleiner, www.phenomenalworld.org
The Neo-mercantilist Moment, Federico Steinberg, www.csis.org
Opening Music: Let’s Start WW3 by World Order
Closing Music: Who Am I by Dario Lupo
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