ABSTRACT
It is true that the direct and immediate result of an increase in the dividend accruing to any group is likely to be some increase of population. Leroy-Beaulieu suggests that the population use has been predominantly followed in Belgium and Germany, and the standard-of-comfort use in other European countries. In the country primarily affected some addition to economic welfare is necessarily secured. If the real income of the manual working class anywhere is increased because the average level of capacity among that class has been raised, no inducement is thereby offered to immigration from elsewhere. But, if their real income is increased through some discovery, or invention, or stroke of policy that improves the economic position of one country considerably more than it improves that of others, an inducement is offered. The chapter concludes that the beneficial effect on economic welfare of transferences of income from the rich to the poor will be so neutralised.
