Exports and imports, a swelling favourable balance of trade, investments and bank-balances, are not an index or a balance sheet of national prosperity. Till the beginning of the Second World War, English exports were noticeably greater than what they are today. And yet England has greater national prosperity today than it ever had. Because the income of average Englishmen, working as field and factory labourers, clerks, policemen, petty shopkeepers and shop assistants, domestic workers and other low-paid workers, has gone up.

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