World economy in 1975 includes three essential elements: the planet earth and its resources; the institutional structure of modern society; and human beings with their diverse concepts and skills which provide its motive force. These three factors, land, capital equipment, and human energy, are the three-fold apparatus upon which 3.7 billion human beings depend for the goods and services which sustain them from day to day and year to year. At an earlier period this economic apparatus centered around the land and its cultivation (agriculture). Since the onset of the great revolution the goods and services have come increasingly from a factory-office centered occupational apparatus. When we consider the integration of the world economy, it is this industrialized, modern economy that we have chiefly in mind. No previous civilization faced such a problem. There are no real precedents upon which we can rely. We must go forward, if we do go forward, experimenting with problems which face the human family for the first time. The integration of planetary economy in 1975 is a total, or unitary, problem. It is not a problem of one continent, of one nation or empire, of one racial or cultural group. It is a problem which the human family faces as a human family, occupying our planet Earth. It is our capital equipment. It is the success with which we apply our know-how to the earth, using our capital equipment and our skills, producing the goods and services upon which our physical existence depends. We rise or fall, sink or swim in terms of our own capacities, our own abilities to adapt ourselves to historical circumstances which will determine the conditions of life on the earth. Indeed, our decisions and consequent actions may determine our own extinction or survival. Planetary economy will aim to provide the means of livelihood for its constituents along six lines: to conserve the human heritage of natural resources, using them sparingly and, where possible, adding to them; to produce and distribute those goods and services which are needed to maintain health and provide for social decency; to produce and distribute goods and services honestly, efficiently and economically; to assure simple necessaries for all, including dependents, defectives and delinquents; to give high priority to local self-sufficiency; to maintain enough central economic authority to guarantee adequate goods and services to successive generations of the planetary population.