DISCUSSION.

The article presents a discussion on economic aspects of war. According to economist Earl L. Hamilton modern wars tend to raise the marginal productivity of capital and the rate of return upon investments after the cessation of hostilities. Since a cumulative need for most consumers goods arises, a restoration of consumer purchasing power and of effective demand are identical phenomena. According to G. Heberton Evans Jr., the general subject-which for present purposes is cast essentially in monetary terms seems to be divisible into five broad queries on investment decisions. According to him the size and location of potential investable funds depend upon physical factors such as the richness of natural resources and the state of technology, upon business factors such as the efficiency with which the factors of production are united and applied to the resources, the individuals who control business enterprises, the banking system, and the distribution of earned income and upon social factors such as the distribution of property government taxation and expenditure, and the extent to which institutions are available for collecting or uniting the savings of the community, particularly the savings of the financially obscure.