Mercantilism, Compétitivisme and the New Role of the State

Abstract

Globalisation does not signal the end of the State and the emergence of a universalistic ideal of economic thought. Instead, and notwithstanding its new focus, it highlights a tension that has always existed between universal rules and collective choices made by individual societies. Moreover, States have developed contradictory patterns of behaviour that manoeuvre between liberalism and compétitivisme, a modern form of mercantilism which creates new rivalries among States and increases inequalities in the world economy. Since globalisation is here to stay, we need to re-think the way it is regulated.