C. H. Douglas, founder of Social Credit
C. H. Douglas, founder of Social Credit
1,949 words
When, during World War I, C. H. Douglas was sent to sort out the accounting muddle in an aircraft factory in Farnborough, England he noticed that the factory was generating costs faster than it was distributing incomes. Replicating the process at a hundred other large British firms he found that the total costs were always more than the money distributed in dividends, wages, and salaries.[1]
Douglas became concerned that the men who labored in the factories producing the necessities of life could not always afford to purchase the items they had worked to produce, (more…)
