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Social credit is a distributive philosophy of political economy developed in the 1920s and 1930s by C. H. Douglas.Douglas attributed economic downturns to discrepancies between the cost of goods and the compensation of the workers who made them.
Notable supporters of Social Credit or "monetary reform" in Britain in the 1920s and 1930s included aircraft manufacturer A. V. Roe, scientist Frederick Soddy, author Henry Williamson, [citation needed] military historian J. F. C. Fuller [7] and Sir Oswald Mosley, in 1928-30 a member of the Labour Government but later the leader of the British Union of Fascists.
The name Social Credit Party has been used by a number of political parties.. In Canada: Social Credit Party of Canada; Manitoba Social Credit Party; Parti crédit social uni ...
C.H. Douglas was born in either Edgeley or Manchester, [2] the son of Hugh Douglas and his wife Louisa (Hordern) Douglas. Few details are known about his early life and training; he probably served an engineering apprenticeship before beginning an engineering career that brought him to locations throughout the British Empire in the employ of electric companies, railways and other institutions. [2]
The Union also favoured a more orthodox application of social credit economic theory, something that the western based Social Credit movement had begun to move away from under the influence of Alberta premier Ernest Manning. This led to tensions with the national party and Even initially opposed the creation of a national Social Credit Party.
In the 1940 federal election many Social Credit Party MPs ran for re-election under the New Democracy party led by former Conservative William Duncan Herridge as part of a joint effort. All 3 New Democracy candidates elected were Social Credit incumbents, Social Credit leader John Horne Blackmore and MPs Walter Frederick Kuhl and Robert Fair ...
In the years around 1920 the British engineer C. H. Douglas developed a theory on banking and welfare distribution, a theory which he called "Social Credit", and which soon became the cornerstone of an international movement with the same name. However, Douglas himself warned against viewing the Social Credit solely as a scheme for monetary reform.
Formed in 1932 as the Financial Freedom Federation (FFF), it became the Irish Social Credit Party in late 1935. The party sought to reform Ireland's financial and economic system on lines consistent with the social credit economics as espoused by Major C. H. Douglas. The FFF had split in two factions: one operating under the banner of the ...