Economics: Biographies

A Dictionary of World History The Columbia Encyclopedia, 6th ed. Further reading

Douglas, Clifford

A Dictionary of World History | 2000 | Copyright

Douglas, Clifford (1879–1952) British engineer and economist. Before and during World War I he developed his theory of SOCIAL CREDIT, arguing that in every productive establishment the total cash issued in wages, salaries, and dividends was less than the collective price of the product. To remedy deficiencies of purchasing power, either subsidies should be paid to producers or additional moneys go to consumers. His ideas became fashionable in Britain (1921–22) and in the dominions, particularly in Canada and New Zealand.

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Clifford Hugh Douglas

The Columbia Encyclopedia, 6th ed. | 2011 | Copyright

Clifford Hugh Douglas 1879–1952, English engineer and social economist, educated at Cambridge. Author of the economic theory of Social Credit , he became (1935) chief reconstruction adviser to the Social Credit government of Alberta, Canada, but, differing with some of its policies, he shortly resigned. His books include Economic Democracy (1920), Social Credit (1924), The Monopoly of Credit (1931), The Use of Money (1935), and The Alberta Experiment : An Interim Survey (1937).

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