Social Credit

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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
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. 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).
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, 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
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 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 ?
54) Flanagan and Lee, 215; Alvin Finkel, "Alberta Social Credit Reappraised: The Radical Character of the Early Social Credit Movement," in The Prairie West.
This change appears to have been largely symbolic in nature, aimed at those Labour supporters sympathetic to the Social Credit movement (eg see Hawke, 1973, p 74; Sinclair, 1976, p 347).
In a further nod in the direction of the Social Credit movement, the 1973 amendment included a requirement "to ensure that the availability and conditions of credit provided by financial institutions are not inconsistent with the sovereign right of the Crown to control money and credit in the public interest" (1973, s5).
Some of these changes have reflected specific New Zealand circumstances not mirrored elsewhere, such as the political influence of the Social Credit movement in earlier years and the public sector reforms of the late 1980s.
The Social Credit movement of the mid-1930s was a very big tent, politically speaking.
A very solid piece of electoral analysis, this work effectively disputes the orthodox class-based explanations of political support for the Social Credit movement.
7) Significantly, however, Manning's purge of 1947-48 did not end anti-Semitism within the Social Credit movement.
Nonetheless, scholars of the Social Credit movement suggest a definite shift in party ideology after 1948.
Gostick's organization folded its own publication, the Voice of the Electors, and the two splinter groups began publishing Social Credit, which they declared to be the "official organ of the Canadian Social Credit Movement.
i]t has been brought to my attention that an erroneous impression has been created in certain quarters that the Social Credit Movement is anti-semitic.
The result, I would argue, is that he is unable to explain how the Social Credit movement and government changed over time, and indeed he ends up largely denying that change occurred.
Bob Hesketh has accomplished what few scholars of the Alberta Social Credit movement have attempted--he has explained in meticulous detail the intricacies of social credit economic and political theory as formulated by its founder, Major C.