Social Credit and Douglas theories

Press, 27 February 1981, Page 12

Social Credit and Douglas theories

Sir, — Replying to J. F.. Garvey (February 21) for many years official Social Credit policy has not followed Douglas’s early financial theories because 1930 is not 1970 or 1980. In the depression years investment and spending money were short, the latter mainly because of high unemployment. Today money is available but interest rates are so high that smaller businesses cannot afford to borrow, resulting in declining job oppor:u- - nities. Many years of Labour and National ignoring-the-facts mismanagement, resulting from their blind faith in an utterly impractical money system, plus a dedication to two-party confrontation politics, has left our nation in such a state that only a Social ’ Credit government will be able to stop the rot and progressively restore our self-respect and will to work. Paying people to do nothing is economic madness and socially disastrous. A revival of • small business activity will create jobs and broaden the tax base. — Yours, etc., P. NCRMAN DAVEY. February 23, 1981.