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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 ...
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 1970, a bitter dispute at the party's annual conference saw Cracknell lose the Social Credit Party's leadership to his deputy, the more confrontational John O'Brien. The 1970 conference was described as "the most vivid example of political bloodletting in public" since John A. Lee had been expelled at the 1940 Labour party conference. [13]
The Social Credit Party of Canada (French: Parti Crédit social du Canada), colloquially known as the Socreds, [3] was a populist political party in Canada that promoted social credit theories of monetary reform. It was the federal wing of the Canadian social credit movement.
The Ontario Social Credit party ran three candidates in the 1945 provincial election. In 1946, the Ontario Social Credit movement split as a result of Ernest Manning's growing hostility to Douglasites and anti-Semites in the movement. The official Ontario Social Credit League was headed by John J. Fitzgerald and William Ovens.