The general plan is as follows. In Part I. It is argued, subject, of course, to a large number of qualifications, that the economic welfare of a community is likely to be greater (1) the larger is the average volume of the national dividend, (2) the larger is the average share of the national dividend that accrues to the poor, and (3) the less variable are the annual volume of the national dividend and the annual share that accrues to the poor. Parts II. III. And IV. Are devoted'

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