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Nationalism And Capitalism In Europe

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Nationalism is a modern phenomenon which took shape of a movement throughout Europe in the 19th century. It redefined the principles of commardship within a community. It provided an alternative to the medieval feudal order and absolute monarchy which ultimately failed to keep pace with the new social order i.e. Capitalism. " Capitalism is a social system based on the principle of individual rights. Politically, it is a system of laissez - faire ( freedom ). Legally it is a system of objective laws ( rule of law as opposed to rule of man ). Economically, when such a freedom applied to the sphere of production its result is the free market." ( capitalism.org ) With the advent of Industrial Revolution in the 18th century there occurred a transition from Feudalism towards Capitalism. This transition was smoothly unleashed by the spirit of nationalism which culminated into the formation of modern nation states.
Liah Greenfeld defines Nationalism as "a fundamentally secular and humanistic consciousness based on the principle of popular sovereignty and egalitarianism" .(Greenfeld, "Nationalism and the Mind") This promising principle of egalitarianism intoxicated every mind irrespective of social differences. Nationalism stood as the harbinger of a new age. It commanded popular support

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