List contended that Smith's economic system is not an industrial system but a mercantile system, and he called it "the exchange-value system". Contrary to Smith, he argued that the immediate private interest of individuals would not lead to the highest good of society. The nation stood between the individual and humanity, and was defined by its language, manners, historical development, culture and constitution. The unity must be the first condition of the security, well-being, progress and civilization of the individual. Private economic interests, like all others, must be subordinated to the maintenance, completion and strengthening of the nation.