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SMAD. An Organ of Student Opinion. 1935. Volume 6. Number 17.

Economic Situation

Economic Situation.

The economic position was well summarised by the statement that population was increasing as the square, production as the cube, and debt as the fourth power of the increment of time. Despite the manifest success of the modern productive system, the distributive-money-system was failing to enable nations to purchase the whole of their output. From this resulted the absurd, though universal, struggle to export and to resist imports, which was the basic cause of international friction. For the causes of war, formerly dynastic, were now essentially economic.