Monetary Research Center

17/2018 On the relevance and adequacy of Clifford Hugh Douglas and his socioeconomic philosophy
Issued in Thursday, September 21, 2017

This paper discusses the criticism of Austrian and Keynesian schools of thought against the theory of the unorthodox monetary and social reformer Clifford H. Douglas. The thesis of the author is that the ideas of Douglas although especially adequate to our most pressing economic problems of today were disrespected, misunderstood and universally rejected from the Austrians by their complete lack of practical understanding in the field of accrual accounting, the not self-liquidating price system in the modern industrialized economy and the credit theory banking. While John Maynard Keynes, who was personally influenced by Douglas was more likely trying to save his carrier by distancing himself from the more essential analysis of  the relevant but extremely politically incorrect author.     

In conclusion, the carrier economist and political parties of the time proved to be morally and intellectually incapable of handling Douglas’s economics.  The consequences of this turned out to be far worse and reaching than the uninformed public may assume as according to the author the relevance and adequacy of Douglas’s economics raises exponentially with the exponential rise in technology and income inequality while the ideas of his critiques become exponentially more dangerous and inadequate. 


 
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