Doug was born in Rockhampton, Australia. Following his schooling, he joined the Australian Air Force, which participated with the British Royal Air Force, and flew 31 missions in World War II in the Far East as a radio operator.

After the war, he went to the University of Queensland and received his PhD from the London School of Economics. While studying, he worked at Vauxhall Motors in charge of the pension fund. Following receipt of his degree, he was invited to the Wharton School, University of Pennsylvania where he rose to Professor of Finance. He served for the school for 15 years. Subsequently, he was invited to the University of Western Australia as the Chair of Economics in Perth, Western Australia, where he served for 5 years. Then he was invited to the University of Massachusetts, where he finished his career as Professor of Economics, retiring at 70 in 1994.

He published widely in economics and theology, having many books to his credit, including Studies in the Theory of Money 1690-1776, Money and Banking, The Theory of the Firm, Economics and Man, The Texture of Truth, The Fracture of Faith. He taught Sunday School. He read widely. He loved music, having played the French horn in his youth, and his piano in later life. He could play anything if he heard it once and transpose it to another key.

His wife, Miriam, predeceased him in 2013 and his son, Paul, in 2001. His survivors include several nieces in Australia, and in this country, Ann Hopkins of Hadley and her daughters, Kimberly Hopkins Hickie and Kristen Hopkins Rushin and her family.

Funeral services will be held at the Douglass Funeral Home located at 87 North Pleasant Street, Amherst, on Thursday October 10, 2019 at 10 am, burial will follow in Wildwood Cemetery, Amherst.