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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.
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.
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.
In 1936, the Alberta Social Credit Party-led government of the Province of Alberta, Canada, introduced prosperity certificates in an attempt to alleviate the effects of the Great Depression. Premier William Aberhart's government had won power in the 1935 provincial election partly on the scheme.
From 1932 to 1935, Aberhart tried to get the governing United Farmers of Alberta (UFA) to adopt social credit. [2] However, the 1935 UFA convention voted against adopting social credit and UFA Premier Richard Reid rejected the proposals as being outside the province's constitutional powers, so Aberhart entered Social Credit candidates in that year's provincial election.
Aberhart's government did not implement much of the Social Credit policies promised in the party's election platform, because of the province's very poor financial position in the depths of the Depression. The federal government's opposition to Social Credit was a significant block to Aberhart's policy goals.
The Social Security credit system is a program designed to track who is eligible for Social Security benefits once they hit retirement age (65). As a way to cover the cost of benefits for all ...
Social Credit contested every provincial election between 1938 and 1967, though the party ran only leader Joseph Needham in 1944. The party received the third highest vote share among parties on four occasions, achieving a high-water mark of 21.5% of the vote in 1956; however, only twice were any members elected to the Legislature—two in 1938, and three in 1956.