Abstract
The paper is in three parts. The first concerns the social and economic implications of technological progress with particular reference to electric power generation, the iron and steel industry and transportation.
The second part relates to the fundamental principles of money as a means of payment and a measure of value; also explains the controlling factors which regulate the purchasing power of money.
In the third part the author suggests what might be achieved if, by more modern economic policies, redundant resources were to be transformed into national assets and increased gross national product.
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