The dilemma is plain enough: "A competitive world organized on a national basis." In this capable book the effort is made to relate the deep-lying problems of international economic life and the fundamental questions of world political organization. The author lays great stress upon the pressing population question, the effects of largescale production, the difficulties of international finance and the competition for sources of raw materials and markets. In succinct fashion he reviews the situation as it confronts the leading countries -- Great Britain, Germany, France, Italy and Japan -- and stresses the peculiar position of the United States. It is clear that some way out of the dilemma will have to be found, but the exact solution is not so easy to discover. The author is convinced that in business matters business methods will have to be applied. The League can help, through the organization of economic conferences and in other ways, but there is more immediate hope of alleviation through the development of commercial treaties with the inclusion of the most-favored-nation clause, through the extension of international trusts and financial consortiums, and through the international chamber of commerce. The expert will not find much that is new in this volume, but as a general introduction to international relations in their larger aspects the book has unusual qualities.