Accounts that attribute nationalism to capitalism or industrialization fare the problem of nationalism in late-stage capitalist, or as some might say; post-industrial, societies. While increasing social significance has been attributed to economic growth throughout human history, reasons for this are far from self-evident. By looking at arguments mane by Marx, List, and Smith, a new understanding of the relationship between nationalism and economics emerges - one that explains the attribution of social importance to economic development by revealing it as a function of nationalism.