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This paper details – from a conceptual history perspective – how and why the political-economic phenomenon of economic nationalism, historically and contemporaneously, remains a controversial and contested concept, in discourse and practice. Moving beyond the confines of conceptual history approach, by arguing for a reconceptualization of economic nationalism – based on historical patterns of framing the phenomenon – it advances two arguments. It argues that to overcome its controversies, economic nationalism ought to be reconceptualized in terms of its discernible, various forms: ‘liberal’ (nations in competition) and ‘progressive’ (nations in cooperation), ‘conservative/defensive’ (nations in a zero-sum game) and ‘extreme’ (aggressive/expansionist and/or autarchic nations) and such a variety in discourse and practice is present also in small(er) (nation-)states in modern and contemporary European and global history.