List's avowed liberalism is overshadowed by his illiberal priors, and so the economic history of the 20th century was one of Listian principles being put to use by illiberal regimes such as Russia, China, and Germany. His thought also governed the economic policy of another developmental state for over a century-America.
Smith and Marx formed the basis of 20th century economic theory. But Friedrich List stands as a colossus astride the 20th century, forming the basis of economic practice for all major powers until mid-century. In his introduction to this edition, Francis O'Beirne shows that the great economic clash has never been between capitalism and socialism, but between capitalism and nationalism, with Marxism a revolutionary force, but an economic irrelevancy.