• The term ‘liberalism’ is taken from the Latin word liber which means free.
• The ideology of liberalism emerged which ended the state interference in the economic life of society. Freedom of markets was achieved and state-imposed restrictions on the movement of goods and capital were abolished. Napoleon’s administrative measures were altered.
• For the new middle classes liberalism stood for freedom for the individual and equality for all before the law.
• In 1834, a customs union or Zollverein was formed.
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