ECONOMIC DENATIONALIZATION AS AN ANTIDOTEAGAINST POPULISM

7/30/2019 ECONOMIC DENATIONALIZATION AS AN ANTIDOTEAGAINST POPULISM

1/12

Xjkstn dj Kgstktzokbgjs) Kdjns { Mjxondbs G :: y Botzhxj 81>> y qq' >:>->38 y K__G >6:8-:;01

JOBGBMKO DJGNTKBGNIKUNTKBG N_ NG NGTKDBTJ

N@NKG_T QBQZIK_M%

Ebx`j O' kin%%

Qbqziksm ngd Intkg Nmjxkon) jsqjoknii{ Nx`jgtkgn) nxj jx{ `bbd cxkjgds'

_kgoj tfj @xjnt Djqxjsskbg) n sfbol cxbm pfkof tfj obzgtx{ fns hjjg zgnhij

tb xjobjx) Nx`jgtkgn ks n oinsskoni jvnmqij bc qbqziksm' Kts jobgbmko djoikgj

cbx tfj inst jk`ft{ {jnxs nttjsts kg tfks sjgsj' Ns qbqziksm ks n f{hxkd bckgtjxjgtkbgkst qbikokjs tfnt `b npn{ ngd obmj n`nkg noobxdkg` tb

okxozmstngojs) kg tfj ibg` xzg) tfks gbg-s{stjm ks qbsskhi{ mbxj fnxmczi

tfng sbokniksm' Qzhiko bqkgkbg hjobmjs tbb hnccijd tb ckgd qbqziksm `zkit{

bc jobgbmko cnkizxj'

M{ ~zjstkbg ks tfks5 Fbp db pj sjt n ikmkt tb qbqzikst jobgbmko qbikokjs2

Kgtjxgntkbgni jvqjxkjgoj sz``jsts tfnt djgntkbgnikuntkbg bc lj{ jobgbmko

ckjids mn{ qxbj n dzxnhij ikmkt tb qbqziksm' Kg tfj cbiibpkg` qnxn`xnqfs) Kpkii dksozss n+ tfj bxk`kgs ngd obgsj~zjgojs bc Nx`jgtkgj qbqziksm) h+ n

qxb`xnm cbx djgntkbgnikuntkbg) o+ tfj kdjns bc ng Nx`jgtkgj cbxj-xzggjx bc

djgntkbgnikuntkbg) d+ djgntkbgnikuntkbg ns ng jvqjxkmjgt kg fzmng djsk`g) j+

tfj gjjd bc gbg-xjjxskhij qbikokjs bx tfj jobgbmko ib`ko bc djgntkbgnikuntkbg)

ngd c+ tfj xbij bc jdzontkbg kg mbkg` cxbm qbqziksm tb n ibg`-instkg` mnxljt

bxdjx' K pkii obgoizdj) kg tfj ckgni qnxn`xnqf) tfnt tfj xbij bc jdzontkbg ns n

ofng`j cnotbx ks zgoijnx'

% Ijotzxj kjg nt Mbgt Qjijxkg _bokjt{s Xj`kbgni Mjjtkg`) Tfj Qbqzikst Ofniijg`j tb IntkgNmjxkong Ikhjxt{) bx`ngkujd h{ Czgdnokg Ikhjxtnd &Xbsnxkb+) ngd fjid Nqxki >0-81)

81>> kg Hzjgbs Nkxjs' Xjqxbdzojd fjxj pktf qjxmksskbg' K xntjczii{ nolgbpijd`j obmmjgtsh{ Nihjxtb Hjgj`ns I{gof Ex') Mnxobs @niinofjx) E' _txjh ngd @' Tbxngubs Tbxkgb'

%% QfD kg Jobgbmkos &Zgkjxskt{ bc Ofkon`b+' Qxbcjssbx bc Jobgbmkos &Zgkjxskt{ bc OJMN)Hzjgbs Nkxjs+' Jmnki5 eonAojmn'jdz'nx Pjhqn`j5 ppp'ebx`jnkinbqkgn'obm


2/12

>:8 y XKKM G::) Botzhxj 81>>

Nx`jgtkgj Qbqziksm5 Pn{s ngd Xjszits

Tfbz`f tfj Nx jgtkgj jobgbmko djoikgj fns hjobmj n oinssko xjcjxjgoj) ijtmj mnlj ezst n cjp xjmnxls tb ndd qjxsqjotkj' N ojgtzx{ n`b) tfj jobgbmko

bx`ngkuntkbg bc tfks obzgtx{ pns bgj bc tfj mbst ikhjxni ngd jcckokjgt kg tfj

Pbxid' Nx jgtkgj qxbsqjxkt{ pns cbzgdjd bg tfxjj qkiinxs5 bqjggjss tb txndj)

`bid stngdnxd) ngd cksoni cjdjxniksm &kin) 81>15KK)?0-4:+' Jvqbxts pjxj n

inx`j cxnotkbg bc @DQ) mbxt`n`j ibngs pjxj fnic tfj @DQ) ngd tfj qxbkgojs

obiijotjd nimbst nii tfjkx xjjgzjs h{ tfjmsjijs' Hxktksf xnkipn{ onqktniksts

djmngdjd gb xksl qxjmkzm cbx tfj fz`j kgjstmjgts tfj{ pjxj skglkg` kgtfj obzgtx{) ngd qjx-onqktn kgobmj pns tfj snmj ns tfj Ngìb-_nvbg njxn`j

&Z_N) @xjnt Hxktnkg) Nzstxnikn) ngd Ongndn+'

Kg >;?1) kgtjxgntkbgni okxozmstngojs cbxojd Nx`jgtkgn tb nhngdbg tfj

Ngìb-Nx`jgtkgj Txjnt{ cbx Nmkt{) Txndj ngd Gnk`ntkbg tfnt pns tfj ij`ni

cbzgdntkbg bc Ngìb-Nx jgtkgj txndj ngd kgjstmjgt cbx mbxj tfng n ojgtzx{

&Cjxgs) >;33+' Pj tfkgl tfj @xjnt Djqxjsskbg pns tfj txk``jxkg` cnotbx bc n

xj`kmj ofng`j tfnt ijd tfj obzgtx{ tb obmmjxokni nztnxl{ ngd qbiktkoniksbintkbg' Kg n cjp {jnxs) Nx`jgtkgn ibst fjx fkstbxko hbgd tb Hxktnkg) n

szqjxqbpjx nt tfnt tkmj) ngd cbzgd fjxsjic qzsfjd tb tfj bztdbbxs'

Nxbzgd >;?: tfj obzgtx{s jobgbmko bx`ngkuntkbg ofng`jd dxnmntkonii{'

Kg tfj obmkg` djondjs Nx`jgtkgn pbzid hjobmj n jx{ oibsjd jobgbm{ &bgi{

mbxj bqjg tfng Hxnuki ngd Kxng+) jvqjxkjgoj n oinssko f{qjxkgcintkbg) sjjxni

hnglkg` qngkos ngd tpb djcnzits bg fjx djht pktf tfj xjszitkg` fk`fjst obzgtx{-

xksl qxjmkzm bc tfj pbxid cbx n tfkxt{-{jnx qjxkbd &tjg qjxojgtn`j qbkgts qjxnggzm bg njxn`j+< nt tfj snmj tkmj) tfj obzgtx{ pbzid obgjxt kgtb n zgktnx{

stntj cxbm tfj cksoni stngdqbkgt' Kg tfj inst {jnxs) Nx`jgtkgj qjx-onqktn kgobmj

fns cniijg tb cbxt{ qjx ojgt bc tfj Ngìb-_nvbg njxn`j &kin) 81>8) KK+'

Qbqziksm fns xjnofjd kts mnvkmzm qbsskhkiktkjs kg qxjsjgt-dn{ Nx`jgtkgn'

Tfjxj ks gb xjni ikmkt tb ozxxjgo{ djnizntkbg) hj{bgd tfj qbiktkoni obst bc

zgobgtxbiijd kgcintkbg &hngl xzgs nxj zgiklji{ hjonzsj hngls nxj gbt txzstpbxtf{

ngd djqbskts nxj qxjtt{ ibp+< tfjxj ks gb xjni ikmkt tb txndj kgtjxcjxjgoj) kgsqktj bc Mjxobszx) ngd tfjxj ks gb ikmkt jktfjx tb tfj qbpjx bc tfj Qxjskdjgt

bjx qxbkgokni `bjxgbxs dzj tb qbiktkoni mngn`jmjgt bc cjdjxni czgds'


3/12

Jobgbmko Djgntkbgnikuntkbg ns ng Ngtkdbtj n`nkgst Qbqziksm y >:?

Qbqziksm `jgjxnii{ kgbijs tkgljxkg` pktf qxbqjxt{ xk`fts) tfxbz`f

gntkbgnikuntkbgpfjg qxbqjxt{ ks kjg zq pktf bx pktfbzt qxbqjx obmqjgsntkbg)

bx tfxbz`f qbikokjs ijndkg` tb skunhij ofng`js kg tfj mnxljt nizj bc nccjotjdqxbqjxt{' Nx jgtkgn fns zgdjx`bgj hbtf t{qjs bc kbintkbg bc qxkntj qxbqjxt{'

Tfjxj ks gb dkccjxjgoj hjtpjjg tfjm ns tb tfjkx ibg`-xzg kmqnot zqbg onqktni

noozmzintkbg ngd `xbptf' Xjojgt jvnmqijs bc tfj ckxst lkgd nxj tfj

gntkbgnikuntkbgs bc qjgskbg czgds ngd pntjx ztkiktkjs< xjojgt jvnmqijs bc tfj

sjobgd lkgd nxj jx{ cxj~zjgt ozxxjgo{ djnizntkbgs) cxjjukg` tfj tnxkccs bc

qzhiko ztkiktkjs) hnggkg` bc mjnt ngd pfjnt jvqbxts) ngd sb bg'

Djgntkbgnikuntkbg kg Qxnotkoj

Ng jobgbmko bx`ngkuntkbg cbzgdjd bg qxbtjotkbgksm) ojgtxni hnglkg` ngd

cksoni ojgtxniksm) nii ijndkg` tb gntkbgniksm ngd kgtjxgntkbgni ksbintkbg) sfbzid

hj obgskdjxjd bgj bc tfj hnsko onzsjs bc Nx`jgtkgj qbqziksm bjx tfj inst

jk`ft{ {jnxs' Tfks lkgd bc bx`ngkuntkbg ks qxbgj tb qbqziksm dzj tb kts kgtxkgskozgnoobzgtnhkikt{ ngd xjjxskhkikt{' Kg tfks sjttkg`) Qxjskdjgts tjgd tb djni gbt

pktf Obg`xjss) qbpjxczi bjxgbxs ngd cbxjk`g qbpjxs) hzt pktf iboni kgtjxjst

`xbzqs) qxbkgokni hj``nxs ngd qjxkqfjxni obzgtxkjs' Ng bx`ngkuntkbg iklj

tfks jgtnkis n ibp obst bc xjqzdkntkbg bc tfj xzijs bjxgkg` tfj jobgbm{' Kg

tzxg) n ibp obst bc xjqzdkntkbg jgtnkis n fk`f qxbhnhkikt{ bc xjjxskbg bc

jobgbmko xzijs ngd obgsj~zjgti{ n fk`f obzgtx{-xksl qxjmkzm' Tfxbz`f tfks

qxbojss) qbqziksm jgds zq fkgdjxkg` kgjstmjgt) qxbdzotkkt{) ngd `xbptf)nqnxt cxbm cjdjxniksm ngd hnsko okki ikhjxtkjs'

Tfj Nx`jgtkgj onsj ks n `bbd jvnmqij bc qntf djqjgdjgoj' Tfj @xjnt

Djqxjsskbg mjngt tpb tfkg`s cbx tfj obzgtx{5 tfj djmksj bc tfj Ng`ib-

Nx`jgtkgj Txjnt{ ngd tfj ibss bc lj{ jvqbxt mnxljts' Tfj obgsj~zjgojs bc

tfjsj cnots pjxj qbiktkoni ksbintkbg ngd qxbtjotkbgksm' Kg n cjp {jnxs)

kgtjxgntkbgni txjgds ngd qbiktkoni ksbintkbg ijd tb cbxjk`g jvofng`j obgtxbis)

ojgtxni hnglkg`) ngd gntkbgnikuntkbg bc tnv obiijotkbg' Kg tfks pn{) n xj`kmjofnxnotjxkujd h{ zgnoobzgtnhkikt{ ngd xjjxskhkikt{ pns hbxg' Mk`z &>;;?5:;+

qbkgtjd bzt kg tfks sjgsj tfnt hxbnd fkstbxkoni txjgds nxj obgskstjgt pktf


4/12


tfj tfjsks tfnt sqjgdkg` ngd xj`zintbx{ kgstxzmjgts ong hj mbxj jnski{

jmqib{jd bg n inx`j sonij pfjg txndj hnxxkjxs nxj stjjq'

N qxbqbsni tb jstnhiksf n ikmkt tb qbqziksm obgsksts bc tnlkg` npn{ cxbmtfj ezxksdkotkbg bc tfj gntkbgni `bjxgmjgt tfj lj{ ckjids bc kgtjxgntkbgni

txndj) mbgj{ ngd hnglkg`) ngd tnv obiijotkbg' Xj`nxdkg` txndj)

djgntkbgnikuntkbg mjngs tb qinoj cbxjk`g txndj zgdjx tfj ezxksdkotkbg bc n

cxjj txndj n`xjjmjgt pktf n szqjxqbpjx' Cbx kgstngoj) ng CTN pktf tfj Z_N

pbzid cbxoj tfj Nx`jgtkgj `bjxgmjgt tb obmqi{ pktf n djckgktj tnxkcc

stxzotzxj ngd obmmbg xzijs xj`nxdkg` kgtjiijotzni qxbqjxt{) qxbtjotkbg bc

kgjstmjgts) bcckokni szqqikjs) tfj jgkxbgmjgt ngd tfj inhbx mnxljt' Tfzs)tb djgntkbgnikuj kg tfks ckjid ks j~zni tb szqxngntkbgnikuj'

Xj`nxdkg` mbgj{) djgntkbgnikuntkbg mjngs tb szhstktztj n pbxid xjsjxj

ozxxjgo{ cbx tfj gntkbgni ozxxjgo{' Xj`nxdkg` hnglkg`) kt mjngs tb qinoj

iboni obmmjxokni hngls zgdjx tfj snmj ezxksdkotkbg ns cbxjk`g xjskdjgt hngls'>

Tb djgntkbgnikuj kg tfks ckjid ks j~zni tb kgtjxgntkbgnikuj'8

Xj`nxdkg` qzhiko ckgngoj) djgntkbgnikuntkbg mjngs tb djojgtxnikuj tfj

obiijotkbg bc tnv xjjgzjs' Tfks kgbijs mnlkg` qxbkgojs noobzgtnhij cbxobiijotkg` mbst xjjgzjs sb tfnt qbiktkoni qbpjx ks jccjotkji{ dkkdjd' Tb

djgntkbgnikuj kg tfks ckjid ks j~zni tbqxbkgoknikuj'

Tfj bgi{ qzxqbsj bc djgntkbgnikukg` cbxjk`g txndj) mbgj{ ngd hnglkg`

ks tb mnlj szxj tfnt lj{ nxjns bc tfj jobgbm{ xjmnkg sncj cxbm tfj dksoxjtkbg

bc tfj Nx`jgtkgj ezxksdkotkbg' Tfj xjnii{ fk`f obst bc xjqzdkntkbg bc

szqxngntkbgni ngd kgtjxgntkbgni n`xjjmjgts sfbzid dksobzxn`j kgtjxjgtkbgs

bc tfj gntkbgni `bjxgmjgt kg tfbsj nxjns' Kg tfks pn{) tfj obzgtx{-xkslqxjmkzm sfbzid b dbpg ngd onqktni noozmzintkbg pktfkg gntkbgni hbxdjxs

sfbzid `b zq'

Tfj `bni bc djgntkbgnikukg` tnv obiijotkbg ks tb xjstxkot tfj qbpjx bc

ojgtxni `bjxgmjgt'

Tfkgl tfnt tpjgt{-cbzx smnii qbqzikst `bjxgbxs sfbzid hj ijss fnxmczi

tfng n dbmkgjjxkg` qbqzikst Qxjskdjgt' Tnv obmqjtktkbg nmbg` qxbkgojs

sfbzid ijnd tb ibpjx tnvjs) hjttjx sqjgdkg`) ngd mbxj jccjotkj djmboxno{'?

Pj mzst pnxg gjjxtfjijss tfnt tfj xjjxskbg obst bc tnv djojgtxnikuntkbg ks

ibp' Pf{2 Hjonzsj tfj xjoxjntkbg bc n ojgtxnikujd s{stjm h{ n cztzxj


5/12

Jobgbmko Djgntkbgnikuntkbg ns ng Ngtkdbtj n`nkgst Qbqziksm y >::

`bjxgmjgt pbgt kgbij n xjqzdkntkbg bc kgtjxgntkbgni n`xjjmjgts) tfnt

obzid stk`mntkuj ngd ksbintj tfj obzgtx{'

Nihjxdk ngd tfj Obst bc Xjqzdkntkbg

M{ tfjsks ks gbt gjp' Cxkjdxkof Fn{jl &>;06+ pxbtj n qxbqbsni cbx djgntkbgnikukg`

mbgj{) pfkof K fnj jgeb{jd xjndkg`) tfbz`f kt dbjs gbt ckt nitb`jtfjx kg

tfj Nx`jgtkgj fkstbx{ bc kgstktztkbgni xjjxskhkikt{' Ezng Hnzstkstn Nihjxdk

&>6:4+) tfj >;tf ojgtzx{ Nx`jgtkgj sbokni tfkgljx) pxbtj qjxojqtkji{ bg tfjstnhkikukg` kgcizjgoj bg dbmjstko kgstktztkbgs bc txjntkjs pktf szqjxqbpjxs

&Hxktnkg) Cxngoj) ngd tfj Z_ nt fks tkmj+5

Pj mzst sk`g txjntkjs tb szxxbzgd pktf j~zni kmmzgkt{ jjx{ sfkq) jjx{

xnkipn{) ongni) pfnxc) cnotbx{) pfjxj pnjs tfj cin` bc tfj cxkjgd gntkbg tb

pfkof hjibg`s tfj bgj pfb jvqibkts tfbsj kgdzstxkjs) mnlkg` zsj bc tfj okki

xk`ft obgsjoxntjd h{ tfj Obgstktztkbg' &+ Tfks pkii hj tfj bgi{ pn{ tbqxjsjxj tfjm cxbm tfj dng`jxs bc tfj zgjgdkg` okki pnx< tfnt ks) tb nttxnot

tfjm cxbm nhxbnd) tb ckv tfjm tb tfj obzgtx{) ngd tb `jt n cnii kg tfj kgtjxjst

xntj h{ pn{ bc xjdzokg` tfj xksls tfnt mnlj kt sbnx'

Bzx sfkgkg` okt{ kg tfj fkii pbzid tnlj tfj cbxm bc n obgcjdjxntkbg bc

smnii qxbkgokni xjqzhikos) notkj qin{jx kg pbxid txndj ngd kgjstmjgt tfngls

tb txjntkjs pktf szqjxqbpjxs) pktf n ozxxjgo{ ngd hnglkg` s{stjm kmqbxtjdcxbm tfj ksingds bc stnhkikt{ bc tfj pbxid'

Pbzid Nihjxdk fnj nqqxbjd bc tfks qkotzxj2 Tfjxj ks jkdjgoj tfnt fj

pbzid fnj dbgj sb xj`nxdkg` tfj txndj skdj bc tfj qkotzxj' Bg tfj mbgj{

ngd hnglkg` skdj) tfbz`f fj dkdgt pxktj dbpg ng{ sqjokcko qxjcjxjgoj) pj

tfkgl tfnt nctjx ijnxgkg` nhbzt n s{stjm tfnt ijd tb f{qjxkgcintkbg ngd xjqjntjd

hnglkg` xjstxkotkbgs) fj pbzid fnj sfnxjd bzx kjp bg tfks mnttjx' Gbp)

bg tfj cksoni skdj bc tfj qkotzxj Nihjxdk dkd fnj n sqjokcko qxjcjxjgoj' _kgojtfj ofniijg`j nt tfj tkmj fj pxbtj pns tb oxjntj n ojgtxni `bjxgmjgt) fj

qxjcjxxjd tb hzkid n stxbg` cjdjxntkbg' Gjjxtfjijss) nctjx >:1 {jnxs bc `xbpkg`


6/12


obgojgtxntkbg bc qbiktkoni ngd ckgngokni qbpjx kg tfj fngds bc tfj ojgtxni

`bjxgmjgt) pj tfkgl tfnt fj pbzid fnj xjksjd fks kjp bg tfks mnttjx'

Hjttjx tfng mbst Nx`jgtkgj tfkgljxs) Nihjxdk lgjp tfnt) cbx n okt{ tb sfkgj)tfj Ijkntfng fns tb hj xjstxnkgjd'

Gbg-Xjjxskhij Qbikokjs

N bbd qbiko{ ks n gjojssnx{ obgdktkbg cbx onqktni noozmzintkbg' Tfj szcckokjgt

obgdktkbg ks n `bbd ngd gbg-xjjxskhij qbiko{' Xj`nxdkg` txndj xjcbxm) tfjszoojssczi Hxktksf &>643+ ngd Ofkijng &>;0?-811?+ zgkintjxni bqjgkg`s nxj tfj

jvojqtkbgs tfnt qxbj tfj xzij) pfkij tfj szoojssczi cbxojd Enqngjsj bqjgkg`

&>;:1s+) tfj szoojssczi szqxn-gntkbgni _qngksf bqjgkg` &cxbm tfj >;01s bg+)

tfj szoojssczi hkintjxni Mjvkong bqjgkg` &cxbm tfj >;;1s bg+) ngd tfj szoojssczi

hkintjxni Nx`jgtkgj bqjgkg` &>638->;?1+ nxj tfj xzij ktsjic &kin) 81>1) KK+'

Xbdxkl &8111+ stxjssjs tfnt n txndj xjcbxm bctjg kgbijs kmqbxtntkbg bc

kgstktztkbgs cxbm nhxbnd) nddkg` tfnt qjxfnqs tfj mnebx GNCTN obgtxkhztkbgtb tfj Mjvkong jobgbm{ pns tfj cnotbx bc kxxjjxskhkikt{ ngd ibolkg` kg bc

tfj jobgbmko xjcbxm tfnt tfj n`xjjmjgt qxbkdjd'

Xjjxskhkikt{) xjqzdkntkbg obst ngd obzgtx{-xksl qbkgt tb tfj snmj kdjn'

Hjonzsj bc kts ibp jvqjotntkbgs bc xjjxskhkikt{ pj tfkgl tfnt n szqxn-gntkbgni

txndj bqjgkg` ks szqjxkbx tb n zgkintjxni bgj cxbm tfj jobgbmko qbkgt bc kjp'

Pfjg kgjstbxs qjxojkj n ibp dj`xjj bc xjjxskhkikt{) tfj qxbojss bc xjsbzxoj

xjniibontkbg) cxbm tfj kmqbxt-szhstktztkg` sjotbx tb tfj jvqbxt sjotbx) sqjjdszq ngd cbxjk`g kgjstmjgt ezmqs'

Tfj snmj nx`zmjgt mnljs ndksnhij tfj djgntkbgnikuntkbg bc mbgj{ ngd

hnglkg` kg tfj zgstnhij ngd qbqzikst obzgtx{' Cbx Nx`jgtkgn) n cibntkg`

jvofng`j xntj qbiko{ ks n dng`jxbzs tfkg` ngd obgjxtkhkikt{ bc tfj iboni

ozxxjgo{ ks dbbmjd tb xjjxskbg' Pfnt ks ijct) tfjg2

Dbiinxkuntkbg sfbzid hj tfj nqqxbqxkntj qbiko{' Kt ks gjjxtfjijss xjejotjd

h{ jjx{ qbiktkokng K lgbp) jjg pfjg Nx`jgtkgn ks tfj cbzxtf mbst dbiinxkujdobzgtx{ nctjx Hbikkn) Gkonxn`zn ngd Xzsskn) pfkof nisb zgdjxpjgt

f{qjxkgcintkbg) hngl xzgs) okki zgxjst bx okki pnx &Cjk`j) 811?< Cjk`j jt ni'


7/12

Jobgbmko Djgntkbgnikuntkbg ns ng Ngtkdbtj n`nkgst Qbqziksm y >:0

8111;6650)03-00+ tfj sqbgtngjbzs jvtjgdjd fzmng bxdjx

oxjntjd h{ n obmqjtktkj mnxljt ks mbxj jcckokjgt kg oxjntkg` pjnitf ngd

qxjsjxkg` okki ikhjxtkjs tfng tfj djikhjxntjd nxxng`jmjgt bc fzmng

kgtjxnotkbg h{ n ojgtxni nztfbxkt{' Fn{jl oniis tfj inttjx fzmng djsk`g' [jt

kg tfj inst tfkxt{ {jnxs pj fnj pktgjssjd n qbxtjgtbzs jvjxoksj kg fzmng

djsk`g5 _qnkg fns hjobmj n mjmhjx bc tfj Jzxbqjng Zgkbg' _qnkg ngd tfjxjst bc tfj JZ fnj cxjj txndj kg `bbds ngd sjxkojs) cxjj mbhkikt{ bc inhbx

ngd onqktni xjsbzxojs) n obmmbg ozxxjgo{) ngd) Kii dnxj tb sn{) jjg n

obmmbg hnglkg` s{stjm' Tfj _qngksf xksl qxjmkzm fns tfzs cniijg sfnxqi{)

txk``jxkg` tfj _qngksf jobgbmko mkxnoij'

Tfj JZ fns djgntkbgnikujd txndj) mbgj{ ngd hnglkg`) pfkij qxjsjxkg` n

djojgtxnikujd obiijotkbg bc tnvjs' Ijts cbozs bg tfj ofniijg kg` xjqinojmjgt

bc tfj _qngksf qjsjtn cbx tfj jzxb) tfj obmmbg ozxxjgo{ pfbsj xntj bc jvqngskbgks obgtxbiijd h{ tfj Jzxbqjng Ojgtxni Hngl' Fn{jl &>;065kkk tb v+ bqqbsjd

tfj oxjntkbg bc n obmmbg ozxxjgo{) sz``jstkg` kgstjnd tfj djjibqmjgt bc n

obmqjtktkj) txngsgntkbgni) qxkntj mbgj{ ngd hnglkg` s{stjm'

Pfnt mbgjtnx{ ngd hnglkg` nxxng`jmjgt ks hjttjx cbx tfj qbqzikst ngd

zgstnhij obzgtx{2

Fn{jl dksonxdjd fks bpg qxbqbsni cbx tfj onsj bc n qbqzikst obzgtx{5

Mng{ obzgtxkjs pbzid qxbhnhi{ tx{) h{ szhskdkjs bx skmkinx mjnszxjs) tb

qxjsjxj n ibonii{ jstnhiksfjd hngl ksszkg` n dkstkgot gntkbgni ozxxjgo{ tfnt


8/12


pbzid hj nnkinhij skdj h{ skdj pktf tfj kgtjxgntkbgni ozxxjgokjs) &+ Tfjxj

pbzid tfjg hj sbmj dng`jx tfnt tfj gntkbgnikst ngd sboknikst cbxojs notkj

kg n skii{ n`ktntkbg n`nkgst mzitkgntkbgni obxqbxntkbgs pbzid ijnd

`bjxgmjgts) h{ ndngtn`js obgojdjd tb tfj gntkbgni kgstktztkbg) tb hxkg`

nhbzt n `xndzni xjtzxg tb tfj qxjsjgt s{stjm bc qxkkij`jd gntkbgni ksszjxs

bc ozxxjgo{ &Khkd'5 ;3+'

Tfj Fn{jl s{stjm fns hzt n smnii ofngoj tb sjttij dbpg kg n qbqzikst

obzgtx{) hjonzsj tfnt s{stjm ks czgdnmjgtnii{ xjjxskhij' Tfnts pf{ pj

qxjcjx tb kmqbxt mbgj{ ngd hnglkg` kgstktztkbgs cxbm nhxbnd' Hjkg` tfjFn{jl s{stjm tfj bzt`xbptf bc n obmqjtktkj qxbojss bc dksobjx{) kt sfbzid

hj mbxj jcckokjgt tfng tfj djgntkbgnikuntkbg bc mbgj{ ngd hnglkg`' [jt tfj

inttjx nqqjnxs tb hj mbxj stnhij' Tfj jgjxni nx`zmjgt bc Fn{jl ks nikd cbx

sbokniksm) gbt mzof cbx qbqziksm' Tfks gbg-s{stjm pbzidgt niibp obmqjtktkbg

tfj tkmj gjjdjd cbx tfj dksobjx{ qxbojss tb qxbdzoj kts cxzkts'

Fbp db Pj @jt cxbm Qbqziksm tb n Instkg` Mnxljt Bxdjx2

Tfj txndktkbgni ngspjx tb tfks kmqbxtngt ~zjstkbg ks jdzontkbg' Qinkg bhsjxntkbg

ijd mj gbt tb hjikjj kg tfj qbpjx bc jdzontkbg ns n sbzxoj bc jobgbmko

`xbptf' K tfkgl jdzontkbg ks n obgsj~zjgoj) gbt n onzsj) bc xbptf' Dbz`inss

Gbxtf pxbtj tpb xjjnikg` qnssn`js bg tfks ~zjstkbg' Tfj ckxst bgj sn{s tfnt

jdzontkbg ks gbt n szcckokjgt obgdktkbg cbx `xbptf ngd kt fk`fik`fts tfj gjjdcbx jcckokjgt kgstktztkbgs'

Xkofnxd Jnstjxikgs qxjskdjgtkni nddxjss tb tfj Jobgbmko Fkstbx{ Nssbokntkbg

kg >;61 xjcijotjd tfj pkdjsqxjnd bqtkmksm tfnt jdzontkbg pns tfj sbiztkbg

cbx jobgbmko xbptf' Hzt pfkij kgjstmjgt kg jdzontkbg mn{ hj n gjojssnx{

obgdktkbg) kt ks oijnxi{ kgszcckokjgt) ns tfj xjojgt jkdjgoj cxbm tfkxd pbxid

obzgtxkjs ngd qnxtkozinxi{ Jnstjxg Jzxbqj jobgbmkjs pkii nttjst' Jnstjxikgsbpg dntn &ngd fks dksozsskbg+ qbkgt tb qbbx obzgtxkjs szof ns Xzmngkn ngd

tfj Qfkikqqkgjs tfnt fnd ibg` fkstbxkjs bc jdzontkbgni kgjstmjgt nhbj tfj


9/12

Jobgbmko Djgntkbgnikuntkbg ns ng Ngtkdbtj n`nkgst Qbqziksm y >:;

tfxjsfbid ijji tfnt fj tfbz`ft pbzid mnlj n dkccjxjgoj hzt dkd gbt xjszit kg

szstnkgjd `xbptf< tfj cbxmjx _bkjt Zgkbg fnd hbtf fk`f ijjis bc cbxmni

jdzontkbg ngd n slkiijd inhbx cbxoj' J~znii{ kmqbxtngt nxj tfj kgojgtkjs

pfkof ijnd jobgbmko ngd qbiktkoni bx`ngkuntkbgs tb kgjst kg qxbdzotkj

kgstktztkbgs &Gbxtf) >;;65 8>+'

Tfj sjobgd qnssn`j sn{s tfnt jobgbmko djoikgj gbt gjojssnxki{ kgdzojs

qjxojqtkbgs ijndkg` tb nqqxbqxkntj xjcbxms kg tfj xzikg` oinssjs bc tfj nccjotjd

obzgtx{5

Hzt kt ks n cnot bc fkstbx{< bgj bc tfj mbst jgdzxkg` ngd sk`gkckongt ijssbgs

tb hj djxkjd cxbm tfj qnst' Kt ks gbt tfnt jobgbmkjs kg tfj qnst fnj gbt hjjg

npnxj bc tfjkx kgcjxkbx bx djoikgkg` obmqjtktkj qbsktkbgs' Tfj{ fnj' Hzt

qjxojqtkbgs nhbzt tfj xjnsbgs nxj sbmjtfkg` jisj n`nkg' _qnkgs ibg` djoikgj

kg tfj sjjgtjjgtf ojgtzx{ cxbm tfj mbst qbpjxczi gntkbg kg tfj pjstjxg

pbxid skgoj tfj Xbmng jmqkxj tb n sjobgd xntj qbpjx pns n obgsj~zjgoj bc

xjozxxjgt pnx ngd cksoni oxksjs' Tfj qbikokjs tfnt pjxj obgskdjxjd cjnskhij kgtfj obgtjvt bc tfj kgstktztkbgni obgstxnkgts ngd qjxojqtkbgs bc tfj notbxs pjxj

qxkoj obgtxbis) tnv kgoxjnsjs ngd xjqjntjd obgcksontkbgs' Ns cbx tfj qjxojqtkbgs

bc tfj notbxs fjxj ks Eng Dj Sxkjs djsoxkqtkbg bc tfj jccbxts tb xjjxsj tfj

djoikgj5 Hzt kt pns gbt n sbokjt{ zgnpnxj bc pfnt pns fnqqjgkg`' N pfbij

sofbbi bc jobgbmko xjcbxmjxs pxbtj mbzgtnkgs bc txnots qijndkg` cbx gjp

mjnszxjs Kgdjjd kg >38? n Ezgtn dj Xjcbxmnokg xjobmmjgdjd tb tfj gjp

lkg`) Qfkikq KS) n sjxkjs bc mjnszxjs kgoizdkg` tnvjs tb jgobzxn`j jnxi{mnxxkn`j &ngd fjgoj qbqzintkbg `xbptf+) ikmktntkbgs bg tfj gzmhjx bc

sjxngts) tfj jstnhiksfmjgt bc n hngl) qxbfkhktkbgs bg tfj kmqbxt bc izvzxkjs)

tfj oibskg` bc hxbtfjis) ngd tfj qxbfkhktkbg bc tfj tjnofkg` bc Intkg kg smnii

tbpgs &tb xjdzoj tfj cik`ft cxbm n`xkozitzxj bc qjnsngts pfb fnd no~zkxjd n

smnttjxkg` bc jdzontkbg+ &+ &Dj Sxkjs) >;03) q' 86+' Ns tfj cbxj`bkg`

~zbtntkbg mnljs oijnx tfjxj ks gb znxngtjj tfnt jobgbmko djoikgj pkii kgdzoj

qjxojqtkbgs bg tfj qnxt bc tfj notbxs tfnt pkii ijnd tb xjjxsni bc tfnt djoikgj)kmqxbkg` qjxcbxmngoj &Gbxtf) >;;454+


10/12

>31 y XKKM G::) Botzhxj 81>>

Pj lgbp tfnt jdzontkbg kgoxjnsjs kgdkkdzni qxbdzotkkt{ ngd tfj stngdnxd

bc ikkg` pktfkg ng jcckokjgt kgstktztkbgni sjttkg`' [jt cbx tfj qbqzikst obzgtx{

tfj lj{ ~zjstkbg ks pfjtfjx bx gbt jdzontkbg kgcizjgojs qjxojqtkbgs kg n pn{obgdzokj tb n ibg`-instkg` mnxljt bxdjx'

Gbxtfs bhsjxntkbg bg Xzmngkn ngd tfj Qfkikqqkgjs ngd tfj nhszxd qbiko{

sz``jstkbgs bc tfj jdzontjd mjmhjxs bc tfj sjjgtjjgtf-ojgtzx{ _qngksf

tfkgl tngl) xnksj sjxkbzs dbzhts bg tfj zsjczigjss bc jdzontkbg tb kdjgtkc{

tfj onzsjs bc gntkbgni jobgbmko cnkizxj'

Obgoizdkg` Xjmnxls

Pj fnj qxbkdjd ng ngspjx tb tfj ~zjstkbg qbsjd nt tfj hj`kggkg`5 {js) pj

ong jstnhiksf n ikmkt tb qbqziksm tfxbz`f djgntkbgnikuntkbg bc lj{ jobgbmko

ckjids' Pj fnj nisb ndngojd qbsskhij pn{s tb nofkjj tfks `bni5 tnv

djojgtxnikuntkbg) pfkof hxkg`s tfj oktkujg oibsjx tb `bjxgmjgt djokskbgs

ngd fjk`ftjgs qbiktkoni obmqjtktkbg< szqxngntkbgni txndj n`xjjmjgts) pfkofmnlj iboni kgdzstx{ cnoj cbxjk`g obmqjtktkbg kg n pn{ qjxojkjd ns kxxjjxskhij

h{ jgtxjqxjgjzxs ngd kgjstbxs< ngd tfj kmqbxtntkbg bc mbgj{ ngd hnglkg`

kgstktztkbgs kg kjp bc kts xjintkj stnhkikt{'

Ns cnx ns K lgbp) tfjxj nxj tfxjj pn{s tb tzxg n qbqzikst obzgtx{ kgtb n

ibg`-instkg` mnxljt bxdjx' Ckxst) mbst xjcbxmjxs nxj stxbg` hjikjjxs kg tfj

qbtjgtkni bc jdzontkbg' Tfj{ tfkgl tfnt jdzontjd qjbqij pkii mnlj hjttjx

ofbkojs bg tfj jobgbmko bx`ngkuntkbg bc tfj obzgtx{' Pj tfkgl tfks ks ndnxkg` f{qbtfjsks' _jobgd) cbiibpkg` sqjoknii{ Gbxtf &>;;35>1->>+) mbst

jobgbmksts tfkgl tfnt tfj jobgbmko xjcbxm mk`ft hj tfj bztobmj bc n

xjbiztkbg< tfnts tb sn{) tfj xjszit bc n obgcikot hjtpjjg bx`ngkuntkbgs pktf

dkccjxjgt kgtjxjsts bjx tfj jvkstkg` kgstktztkbgni cxnmjpbxl' _bmj jobgbmksts

ngd fkstbxkngs nx`zj tfnt tfks f{qbtfjsks pns qxbjg xk`ft cbx Nx`jgtkgn

kg tfj >;tf ojgtzx{' Kt dkdgt pbxl) fbpjjx) kg tfj 81tf ojgtzx{' Qbqziksm

fns hjjg nhij tb tfxkj kg tfj inst jk`ft{ {jnxs mnkgi{ hjonzsj bc tfjdksqjxskbg bc tfj jvqbxt sjotbxs qbiktkoni qbpjx ngd nisb hjonzsj bc qntf

djqjgdjgoj'4


11/12

Jobgbmko Djgntkbgnikuntkbg ns ng Ngtkdbtj n`nkgst Qbqziksm y >3>

Inst hzt gbt ijnst) pjj `bt n djcnzit f{qbtfjsks5 tfj pn{ bc tfj pbxid'

Kt sn{s) kg sfbxt) tfnt Nx`jgtkgn ks tfj qxbhijm ngd tfj pbxid ks tfj sbiztkbg'

Kg tfks ckgni onsj) tfj xjcbxm pbzid tnlj bg tfj sfnqj bc kgtjxgntkbgni ngdszqxngntkbgni n`xjjmjgts) xjcijotkg` n mkv bc pbxid ngd xj`kbgni qxjsszxjs

ngd bqqbxtzgktkjs'

gbtjs

> Ojgtxni hngls bc cbxjk g obmmjxokni hngls hjobmj tfj ijgdjxs bc inst xjsbxt bc iboni hngls)

ngd iboni hngls obmqi{ pktf tfj xj`zintkbgs jstnhiksfjd h{ cbxjk`g szxjkiingoj nztfbxktkjs'8 Nihjxtb Hjgj`ns I{gof Ex' qbkgtjd bzt tb mj tfnt tfj czgdnmjgtni hjgjckt bc tfj jvkstjgoj

bc gntkbgs ngd cxbgtkjxs ks tb djojgtxnikuj qbpjx' K n`xjj' Ijt mj ndd tfnt szqxn-gntkbgnikuntkbgngd kgtjx-gntkbgnikuntkbg jgtnki txngscjxxkg` ezxksdkotkbg cxbm tfj bjxgmjgt bc tfj qbqzikstobzgtx{ tb mng{ szqxn-gntkbgni txjntkjs ngd mng{ hbdkjs bc szxjkiingoj'

? Gbxtf ngd Pjkg`nst &>;6;+ fnj nx zjd tfnt dj cnotb cjdjxniksm pns hjfkgd tfj nstjvqngskbg bc Hxktksf jgtjxqxksj kg tfj >6tf ojgtzx{5 Tfj cxn`mjgtntkbg bc qbpjx hjtpjjgtfj lkg` ngd tfj Qnxiknmjgt jccjotkji{ qxjjgtjd tfj gntkbgni bjxgmjgt cxbm kmqbskg`tnvjs ngd xj`zintkbgs bg obmmjxokni jgtjxqxksjs ngd &+ szof `bjxgmjgtni notkkt{boozxxjd kgstjnd nt iboni ijjis' Gbt bgi{ dkd tfj iboniktkjs kmqbsj mbst tnvjs ngd xj`zintkbgs)hzt tfj{ pjxj notkji{ jg`n`jd kg obmqjtktkbg pktf bgj ngbtfjx cbx obmmjxokni ndngtn`j;;6'

kin) E' &81>8+5Mnoxbjobgbmkos bc Obzgtx{-Xksl &Tfj Nx jgtkgj Onsj+' Kg qxbojss'

kin) E' &81>1+5Ngtdbtbs obgtxn ji xkjs`b nx`jgtkgb kg fttq5""ppp'ebx`jnkinbqkgn'obm"

pq-obgtjgt"NgtkdbtbsR1>'qdc

Cjk`j) J' &811?+5 Tfj D{gnmkos bc Ozxxjgo{ _zhstktztkbg) Nssjt _zhstktztkbg ngd dj cnotb

Dbiinxkuntkbg ngd Jzxbkuntkbg kg Txngsktkbg Obzgtxkjs) Pbxlkg` qnqjxs ?) Pksobgskg

Mndksbg - _bokni _{stjms) kg fttq5""ppp'sso'pkso'jdz"jobg"nxofkj"pq811?-1?X'qdc


12/12

>38 y XKKM G::) Botzhxj 81>>

Cjk`j) J') M' Cnzijgd) S' _bgej { S' _bsko &8111+5 Ozxxjgo{ _zhstktztkbg) Zgbcckokni Dbiinxkuntkbg

ngd Jstkmntjs bc Cbxjk`g Ozxxjgo{ Fjid Nhxbnd5 Tfj Onsj bc Oxbntkn' _kvtf Dzhxbgkl

Jobgbmko Obgcjxjgoj) Ezgj) kg fttq5""kdjns'xjqjo'bx`"j"qcj>>'ftmi'

Cjk`j) J') M' Cnzijgd) S' _bgej { S' _bsko &8118+5 Zgbcckokni Dbiinxkuntkbg kg Intkg Nmjxkon5

Ozxxjgo{ _zhstktztkbg) Gjtpbxl Jvtjxgniktkjs ngd Kxxjjxskhkikt{) kg fttq5"">8;'?'81'4>"jqs"kc"

qnqjxs"181:"181:118'qdc

Cjxgs) F' &>;33+5 @xng Hxjtnn { Nx`jgtkgn jg ji sk`ib VKV' Hzjgbs Nkxjs5 Jdkokbgjs

_binx"Fnofjttj'

Fn{jl) C' &>;06+5Djgntkbgniksntkbg bc Mbgj{' Ibgdbg5 Tfj Kgstktztj bc Jobgbmko Nccnkxs'

Fn{jl) C' &>;66+5 Tfj Cntni Obgojkt' Ofkon`b5 Tfj Zgkjxskt{ bc Ofkon`b Qxjss'

Mk`z) E' I' &>;;?+5 Cjdjxniksm ngd Cxjj Txndj' Ibgdbg5 Tfj Kgstktztj bc Jobgbmko Nccnkxs'

Gbxtf) D' &>;;6+5 Ckj Qxbqbsktkbgs nhbzt Kgstktztkbgni Ofng`j) kg Enol Lgk`ft ngd Ktnk _jgjd

&jds'+)Jvqinkgkg` _bokni Kgstktztkbgs) Zgkjxskt{ bc Mkofk`ng Qxjss' Sjxskbg nnkinhij nt

fttq5"">8;'?'81'4>"jqs"jf"qnqjxs";?1;";?1;11>'qdc

Gbxtf) D' &>;;4+5 Kgstktztkbgni Obmqjtktkbg' fttq5"">8;'?'81'4>"jqs"jf"qnqjxs";4>>";4>>11>'qdc

Gbxtf) D' &>;;3+5 Kgstktztkbgs) Bx`ngkuntkbgs ngd Mnxljt Obmqjtktkbg' fttq5""kdjns'xjqjo'bx "q"

pqn"pzpqjf";3>811:'ftmiGbxtf) D' ngd H' Pjkg`nst &>;6;+5 Obgstktztkbgs ngd Obmmktmjgt5 Tfj Jbiztkbg bc Kgstktztkbgs

@bjxgkg` Qzhiko Ofbkoj kg _jjgtjjgtf-Ojgtzx{ Jg`ingd)Ebzxgni bc Jobgbmko Fkstbx{)

4;) G'4) qq' 61?-6?8'

Xbdxkl) D' &8111+5 Txndj qbiko{ xjcbxm ns kgstktztkbgni xjcbxm' fttq5""ls`fbmj'fnxnxd'jdz"

wdxbdxkl"Xjcbxm'QDC

Documents

ECONOMIC DENATIONALIZATION AS AN ANTIDOTEAGAINST POPULISM