Question: How did a wave of economic nationalism strengthen the wider nationalist sentiment growing in Europe? Explain.
Answer: The wave of economic nationalism strengthen the wider nationalist sentiment growing in Europe due to the Following Reason:-
1. The movement of liberalism started with the goal to achieve freedom of markets and to abolish restrictions imposed on the movement of goods and capital.
2. Napoleon introduced such administrative measures which created countless principalities. All these small principalities had their own system of currency, weights, and measures. So if the merchants had to travel across, he had to cross around 11 customs barriers and pay customs duty on each item which was 5% per item. This problem created a wave of Economic Nationalism.
3. Duties on the goods were imposed on the basis of weights and measures. Also, different regions had their own system of weights and measures which were often time consuming task.
4. New Commercial classes demanded unified economic territory to allow the movement of goods, people and capital without any hindrance.
5. In 1834, Zollverein or customs union was established by the Prussia, and most of the German states joined this. According to this, tariff barriers were abolished, and the number of currencies was reduced from thirty to two.
6. Railway system was created, and it improved mobility which controlled the Economic interests of the people; ultimately strengthened the nationalist sentiment of the people.
