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Salient. The Newspaper of Victoria University College. Vol. 19, No. 6. May 31, 1955

Major Douglas

Major Douglas

The name "Social Credit" has come to be applied to the monetary and philosophical theories stemming from the writings of the late Major C. H. Douglas, a highly trained and qualified engineer and mathematician. He occupied various important posts in charge of constructional projects in England. India and South America. While his analysis of many features of our financial and economic system was derived from his study of earlier thinkers, his own original contribution to economics was first his discovery Of the chronic fault of shortage of purchasing power distributed during the productive processes, and secondly his suggestions as to how this shortage could be remedied.