Douglas and the Economist

Dominion, Volume 26, Issue 286, 29 August 1933, Page 11

Douglas and the Economist

Sir, —Professor Belshaw, of Auckland, is reported to have said, in a recent criticism" of the Douglas Analysis and Proposals, that so far as he knew there were “no supporters of Douglas among the ranks of economists"—this being in itself a strong argument against Douglas. Had he taken the trouble to investigate he would have discovered the following facts:— When addressing a public meeting in a Sydney theatre a few months ago Professor R. F. Irvine, sometime Professor of .Economics at Sydney University, stated that he “had been very much impressed with the theories of Major Douglas for more than ten years, but for. some time he had not been able to reconcile his own ideas with all that Douglas proposed. Lately, however, he had been studying the subject very closely and now he was able to say that he was entirely in agreement with" Douglas.” In his book, “Economics” (1931), Professor Gordon Mackay, of Rangoon, “thoroughly substnnitates the Douglas A-|-B Analysis.” The following are some further supporters of Douglas “among the ranks of economists” : H. G. Oliphant, Dip. Ec. (London) ; H. Wright, B.Ec.; Capt. W. Adams, B.Sc. (Econ.). 8.C0m.; M. A. Cheslev, 8.A., B.Sc. (Econ.); J. Hamley. 8.A., B.Ec. Such, then, is the worth of Professor Belshaw’s assertion. It is true, nevertheless, that the majority of professional economists, or _ such of them as have expressed an opinion, declare .the Douglas theory fallacious, but. it is clear from what has been written on the subject by these gentlemen that their opinions spring from ignorance of the Douglas theory. For instance, the pamphlets of Professor Copland an! Mr. W." K. McConnell contain definite _ misstatements of the Douglas theory itself! If, before attacking the Douglas theory, people would follow Professor Irvitie s example and “study the subject very closely” they would save a great deal of uninteresting wrangling in the Press and am, etc., r jack Wanganui, August'26.