Online Library of Liberty: Economics, vol. 2: Modern Economic Problems

limit population in the presence of a capable, ambitious, and efficient rival that covets such opportunities. On the one hand, a population may be so sparse that it has not soldiers enough to defend its territory against a numerous enemy; on the other hand, it may be so dense, and consequently average incomes be so low, that it cannot properly train, arm, and support its population of military age. The recent developments in the art of warfare call for great use of the mechanical industries, for great power to endure taxation, and for great financial resources, conditions found only where the average of national income is high. The point of maximum military power must be far short of the maximum possible population. It would seem that a nation of 100,000,000 inhabitants favorably situated to resist aggression, well supplied with the natural materials for munitions, and well equipped to produce them, might safely limit its numbers so as to insure a high level of popular income. This safety would be greatly increased by permanent alliance with other peoples likewise limiting their numbers and, therefore, interested in maintaining the peace of the world. In this way it would be possible for them all to maintain a standard of popular well-being even higher than is fully consistent with the maximum military power, even in the presence of prolific and aggressive rival nations.

References.

Adams and Sumner, ch. III. Commons and Andrews, ch. II, sec. 4.

Commons, J. R., Races and immigrants in America. Revised. 1920.

Davis, P., Immigration and Americanization. Selected Readings. Bost. Ginn. 1920.

Fairchild, H. P., Immigration. 1913.

The standard of living—up or down? A. E. Rev., 6: 9-25. 1916.

Fetter, F. A., Population or prosperity. A. E. Rev., 3 (no. 1, supp.): 5-19. 1913. (Presidential address before the American Economic Association, 1912; partly incorporated with chap. 25 in the text.)

Foerster, R. F., The Italian emigration of our times. Pp. 558. Cambridge. Harvard University Press. 1919.

Goldenweiser, E. A., Walker’s theory of immigration. Am. J. Soc., 18: 342-351. 1912-1913.

Grant, M., The passing of the great race. Pp. 245. New York. Scribners. 1916. Hamilton, W. H., Readings in current economic history. P. 384-386, 392-395. Univ. of Chic. Press. 1914.

Jenks, J. W., and Lauck, W. J., The immigration problem. Pp. 605. 4th ed. N. Y. Funk. 1917.

Materials for the study of elementary economics. 146-156. Chic. Univ. Press. 1913.

Millis, H. A., Some economic aspects of Japanese immigration. A. E. Rev., 5: 787-804. 1915.

Roberts, Peter, The new immigration. N. Y. Macmillan. 1912. Ross, E. A., The old world in the new. N. Y. Century. 1914. Warne, F. J., The tide of immigration. N. Y. Appleton. 1916.