C. H. Douglas

Clifford Hugh Douglas

Clifford Hugh Douglas, born in 1879, educated at Cambridge University, an engineer developed a new of the role of money and a monetary system which he called Social Credit. He presented his ideas to the Canadian Government in 1924 an published his ideas in the book "Social Credit" first published in 1924 and a revised edition published in 1933. One of the most striking thinks about the book are how prophetic he was.

Social Credit

Since the time that "Social Credit" was published the economic system in most countries which can is termed "capitalist" has become deeply rooted. The capitalist system separates ownership from work such that a minority of elite are permitted to make obscene and unjustified profits at the expense of the many. The capitalist financial system has transformed money itself into the productive property of the few. Money under present day capitalism has lost its original and fundamental purpose, that is as a means of enabling pure exchange. This present day situation is what C. H. Douglas spoke against in his book and offered and alternative solution.

The doctrine of Social Credit is one alternative to the fractional reserve system of money creation and distribution. That would explain the failure of academics to allow a fair study of the system. Instead of a critical review in academia, Social Credit is misrepresented and quickly ignored. The economists of today often examine the social impact of money tangentially as it relates to the costs on a government or corporation. The acceptance of the current flawed system is implicit in their analysis.