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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.
Canadian social credit movement This page was last edited on 7 June 2024, at 23:00 (UTC). Text is available under the Creative Commons Attribution ...
Between 1916 and 1920, he developed his economic ideas, publishing two books in 1920, Economic Democracy and Credit-Power and Democracy, followed in 1924 by Social Credit. The basis of Douglas's reform ideas was to free workers from this system by bringing purchasing power in line with production, which became known as social credit.
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 ]
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 ...
C. H. Douglas, founder of the Social Credit-theory. Photo taken in Edmonton, Alberta, Canada, 1934. 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.
In the 1930s and 1940s, the social credit movement in British Columbia was largely fractious, and made up of various small groups, the largest of which being the Social Credit League. The British Columbian movement was largely at odds with the Albertan wing and sought to distance itself from William Aberhart's religious preaching.