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Economic Democracy
Book • 2009
Economic Democracy, C. H. Douglas's first major work, introduces his Social Credit critique of the monetary system and argues for reforms to democratize purchasing power.
Douglas explains how industrial production creates real wealth that the financial system fails to represent adequately, leading to chronic underconsumption and debt.
He advocates mechanisms such as a national dividend and reforms to the price system to ensure that consumers can access produced goods.
The book blends technical monetary analysis with a political vision that prioritizes individual freedom through economic enfranchisement.
It established many of the concepts later expanded in Douglas's subsequent writings and influenced reform movements in the 1920s and 1930s.
Douglas explains how industrial production creates real wealth that the financial system fails to represent adequately, leading to chronic underconsumption and debt.
He advocates mechanisms such as a national dividend and reforms to the price system to ensure that consumers can access produced goods.
The book blends technical monetary analysis with a political vision that prioritizes individual freedom through economic enfranchisement.
It established many of the concepts later expanded in Douglas's subsequent writings and influenced reform movements in the 1920s and 1930s.
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Robin Archer
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Is a democratic economy possible? Lessons from history, horizons for the future
