Social Credit


Also found in: Dictionary, Wikipedia.

Social Credit,

economic plan in Canada, based on the theories of Clifford Hugh DouglasDouglas, Clifford Hugh,
1879–1952, English engineer and social economist, educated at Cambridge. Author of the economic theory of Social Credit, he became (1935) chief reconstruction adviser to the Social Credit government of Alberta, Canada, but, differing with some of
..... Click the link for more information.
. The central idea is that the problems fundamental to economic depression are those of unequal distribution owing to lack of purchasing power. To solve these difficulties Douglas proposed a system of issuing to every citizen dividends, the amount of which would be determined by an estimate of the nation's real wealth; the establishment of a just price for all goods would be the result. The program became highly influential in Alberta during the depression years, and the Social Credit party, led by William AberhartAberhart, William
, 1878–1943, premier of Alberta, Canada, b. Ontario. He was a schoolteacher and a founder and dean of the Calgary Prophetic Bible Institute (opened 1927).
..... Click the link for more information.
, won a resounding victory in the provincial elections of 1935. The program included distribution of a social dividend of $25 a month, but it proved impossible to put this scheme into practice. Attempts to tax banks and to enter on currency schemes were declared unconstitutional by the courts. The party remained in power in Alberta until defeated in 1971 but was no longer a significant force there by the 1980s. In the federal parliament, the party retained 6 seats until 1980, when it lost them all. The Social Credit party in British ColumbiaBritish Columbia,
province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography
..... Click the link for more information.
 diverged from the doctrines of the original party early on; it declined during the 1990s and no longer exists.

Bibliography

See M. Pinard, The Rise of a Third Party (1971); B. Monahan, Introduction to Social Credit (1982).

References in periodicals archive ?
Exactly how all this will relate to the version of social credit eventually implemented is unclear: licences that might have enabled the systems to be rolled out further ran out last year.
One Social Credit woman in this study, for example, claimed she was "an honorary Indian princess of a Pegein tribe" and had "been given the name Princess Blue Bird.
Aberhart believed that Social Credit reforms were necessary to ensure the individual freedom required for personal salvation.
In the thirties he campaigned tirelessly for Social Credit, even going to Alberta in Canada to advise its Social Credit government, though remaining in some ways outside the movement's mainstream.
But most recently, it has been Alberta that attracted attention for extended political dynasties: Social Credit (1936-71) and then Tories (September 10, 1971-May 5, 2015) the longest unbroken period of electoral control in Canadian history.
He looks at Williams' Patterson which engages with the history of the New Jersey place of the same name and early twentieth-century fiscal ideas for improving equality for workers, such as Social Credit.
They are mainly recycled Social Credit members and various other right wingers cobbled together to make sure that the NDP cannot get back in.
The $521,016 Our Family Social Credit Union in Omaha, Neb.
On May 9, 1937, Lieutenant-Governor John Bowen was turfed out by Social Credit premier William Aberhart and had to live in the Macdonald Hotel.
The school question played a minor role in defeating the Liberals in the 1952 provincial election but the election of a Social Credit government did little good for Catholic schools.
Muriel Manning participe activement au Social Credit Women's Auxiliary et, en 1968, elle est nommee conseillere honoraire du Social Credit Auxiliary.
Every person who is the proprietor, editor, publisher or manager of any newspaper published in [Alberta], shall when required to do so by the Chairman [of the Social Credit Board], publish in that newspaper any statement furnished by the Chairman which has for its object the correction or amplification of any statement relating to any policy or activity of the Government of the Province published by that newspaper within the next preceding thirty-one days.