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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.
At the end of World War I, Douglas retired from engineering to promote his reform ideas full-time, which he would do for the rest of his life. His ideas inspired the Canadian social credit movement (which obtained control of Alberta's provincial government in 1935), the short-lived Douglas Credit Party in Australia and the longer-lasting Social ...
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 ...
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 ...
The Canadian social credit movement is a political movement originally based on the Social Credit theory of Major C. H. Douglas. Its supporters were colloquially known as Socreds in English and créditistes in French.
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.
The Canadian social credit movement was largely an out-growth of the Alberta Social Credit Party, and the Social Credit Party of Canada was strongest in Alberta during this period. In 1932, Baptist evangelist William Aberhart used his radio program to preach the values of social credit throughout the province. [ 4 ]