beggar-my-neighbour policy
Definition
Noun: A national economic or trade policy designed to benefit one's own country by harming other countries, typically through measures like tariffs, competitive devaluations, or export subsidies that damage the economic health of trading partners. The term implies a self-defeating, short-sighted strategy where attempts to gain an advantage ultimately worsen the overall situation for all involved.
Usage
This term is used almost exclusively in the context of international economics, politics, and trade discussions. It describes a specific, aggressive, and often criticized approach to national policy.
Examples
- The imposition of high tariffs on imported goods was widely condemned as a beggar-my-neighbour policy.
- Economists warned that currency devaluation for trade advantage would lead to a cycle of beggar-my-neighbour policies.
- The trade war was characterized by a series of retaliatory beggar-my-neighbour policies.
Advanced Usage
- The term is often used in historical analysis, particularly regarding the protectionist policies that deepened the Great Depression in the 1930s.
- It can be used metaphorically in non-economic contexts to describe any strategy of seeking success by actively undermining competitors, though this is less common.
Variants and Related Words
- Beggar-thy-neighbor (adj./n.): An alternative and common spelling. (e.g., ).
- Protectionism (n.): The general economic policy of restricting imports to shield domestic industries. A beggar-my-neighbour policy is an aggressive form of protectionism.
- Zero-sum game (n.): A situation where one participant's gain is equivalent to another's loss, which is the underlying mindset of this policy.
Synonyms
- Predatory trade policy
- Mercantilist policy (in a negative, modern context)
- Aggressive protectionism
Antonyms
- Free trade policy
- Cooperative trade policy
- Win-win strategy
Related Idioms/Phrases
- "Race to the bottom": While not identical, this phrase describes a similar dynamic where competition (e.g., on regulations or wages) leads to deteriorating standards for all, which can be a consequence of beggar-my-neighbour policies.
Noun
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a policy of promoting oneself at the expense of others; used especially of national policy
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the United States has pursued a beggar-my-neighbor policy
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