s impossible
unless it is a world peace. The post-war experience has shown with equal
clearness, that prosperity means world prosperity, and that it is
impossible to destroy the economic well-being of an integral part of the
world without destroying the well-being of the whole world. These things
were suspected before the war, when they formed the themes of moral
dissertations and scholarly essays, of syndicalist pamphlets, socialist
programs and revolutionary appeals. But it required the hard knocks of
the past eight years to lift them so far out of the realm of theory into
that of reality, that any thinking human being who faces the facts must
admit their truth.[2]

The economics of the modern world make it inevitable that thinkers on
public questions, particularly on economic questions, should frame their
thoughts in world terms, and that the practical plans for the
organization and direction of human affairs should be built around an
idea which includes these three elements:

1. _Any workable plan for the organization of the world must have an
economic foundation._

2. _Such a plan must include all of the economically essential
portions of the world._ It will be ineffective if it is confined to
any one nation, to any one group of nations, or to any one continent.

3. _Such a plan must rely, for its fulfillment, on world thinking and
world organization._

These propositions do not imply that economic forces and world
organization must become the centers of exclusive attention. There are
potent forces, other than economic ones, and there are forms of local
organization that must be developed or perpetuated as a matter of
course. But for the moment the economic forces and the world phases of
organization have assumed a position of primary importance.

[Footnote 2: The Manchester Guardian Commercial, Supplement for April
20, 1922, page IV, carries an advertisement signed by Sir Charles W.
Macara, Chairman and Managing Director of Henry Bannerman and Sons,
Ltd., Chairman of the Manchester Cotton Employers Association, etc.,
which contains a very forceful presentation of this point. "It is
impossible for any country to expect to win economic success at the
expense or in total indifference to the success of others.... The good
of one country is bound up with the good of another, and it is only by
studying what will be mutually advantageous that we shall find the key
to our good fortune.... The w