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Philosophy
The philosophical foundations of economic nationalism are difficult to trace due to the ideology's lengthy history and its unique appeal to different types of groups. The four general pillars come from its political, cultural, economic, and social roots. Though details surrounding these four pillars may differ depending on a nation's status, generally a nation's own status and economic stability takes precedent over another. During the late-19th and early-20th century this meant an emphasis on protectionism, increased role of the government, and even colonialism, as it was a means of modifying an occupied country's culture and creed.

In both Germany and Italy, Fredrich List played a role in the rise in economic nationalism during the 1800s. List brought elements of economic theory and national identity together, as he postured that an individual's quality of life was in correlation with the success of their country and was a well-known proponent of tariffs in the United States. List's ideas on economics and nationalism directly challenged the economic theories of Adam Smith, as List felt that Smith reduced the role of national identity too much and favored of a globalized approach which ignored certain complexities of political life.

History
. . . Jean-Baptiste Colbert, Louis XIV's finance minister, espoused similar ideals before Carayon. Colbert's believed in increased government support in the French economy and French industry while maintaining an aversion to international trade in what became known as Colbertism.

In the mid-to-late 1800s, Italian economic thinkers began to gravitate towards the theories of Fredrich List. Led by Italian economists like Alessandro Rossi, policies favoring protectionism gained momentum. The Italian government had previously been ignoring Italian industry in favor of trade with France. The Italian government seemed content to watch other European powers modernize and gain influence through their colonies. Various groups began to put pressure on the Italian government, from textile to ceramic manufacturers, and although the Italian government imposed tariffs the industrialists felt that it was not enough. The push for industrialization and protectionism quickly spun Italy into an economic crisis in 1887, exposing Italian industrial woes.

The Austro-Hungarian Empire was a unique case in Europe's rise in nationalism before World War I due to the empire's ethnic diversity. Though the empire tried to integrate its Slavic counterparts, the inequalities, paired with the rising Pan-Slavic nationalism, eventually led to the failure of economic integration. The Austro-Hungarian grain markets showed that an effort was made to integrate different ethnic groups economically. Railroads around the empire became more prevalent, but the integration process varied between when accounting for both ethnic and regional factors.

Modern examples
The modern phenomenon of the European Union, paired with Chinese trade shocks, has in part led to a recent resurgence of economic nationalism. Modern European nationalists see their nation's economy becoming generally more globalized at the expense of their own social status. Globalization, like the type one can observe in the European Union, is easy to oppose as it creates winners and losers. Those who lose their jobs due to globalization became the easy target of parties espousing nationalism. The China trade shock had a considerable impact on Europe's growing sense of nationalism as well. Although some European nations were impacted differently, nations that saw an increased exposure to the China trade stock did move significantly further right politically and generally supported more nationalist and protectionist policies.

Germany, in this case, is a unique example of a nation starkly moving away from nationalist tendencies. This is mostly due to nation's unstable past. Consecutive defeats in World War I and World War II and the country's connections to Nazism, have left the German nation in search of a new identity in the form of a post-national entity. German's are statistically less prideful in their nation than other European countries, with only 68 percent of its citizens proud of their nationality, while 26 percent are not proud at all.

The impact of Europe's move towards a globalized economy has led to the passing nationalist policy and the support of right-leaning parties. The impact of this shift has been relatively negative in the case of Britain. Despite not being a full member of the European Union, Brexit caused a decrease in output from 1.7 to 2.5 percent. Compared to other countries that maintained their place in the European Union, the UK has significantly suffered due to its exit from the European Union, while the natural macroeconomic uncertainties that come with a drastic economic change only accounted for 20 percent of the nation's drop in output.