National champions

National champion is a governmental policy in which large organisations are expected not only to seek profit but also to "advance the interests of the nation"; the government sets policies which favour these organisations. The policy is practised by many governments, in some sectors more than others (such as defense), but by giving an unfair advantage against market competition, the policy promotes economic nationalism domestically and global pre-eminence abroad contrary to the free market. The policy also deters or prevents venture capitalism.

As the policy is the collective form of inequality of opportunity, it is irreconcilable with the paradigm liberal economy advocated by 18th century economist Adam Smith. It was a key plank of the Dirigiste policy of 1945-1975 France.

Under a National champion policy, governments expect one domestic corporation or an oligopoly of such corporations, typically in strategic sectors (whether private or state-sponsored) to seek profit and to "advance the interests of the nation". The policy is practised or acquiesced to by every country in certain sectors (typically national defence and security and the printing of banknotes and often in the philanthropic, performing or subsidizing research and development of new technologies and through those National Institutes which produce marketable innovations). By allowing corporations a real or perceived monopoly due to the amalgamation of enterprises and the active or supportive suppression of domestic and foreign-based market competition, the policy over time operates as a form of economic nationalism as it is contrary to the free market and enhanced innovation. Academics often cite post-World War II Gaullist dirigisme in France as the pinnacle of the national champion policy. Other examples include the creation of the British Steel Corporation by the United Kingdom which acquired the country's largest 14 domestic steel companies in 1967.

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