What were the economic ideas proposed by Bill Aberhart and his Social Credit party during the Great Depression in Alberta?
Understand the Problem
The question is presenting information about Bill Aberhart, a preacher and school teacher from Alberta, and his ideas regarding economic solutions during the Great Depression. It explains his belief that the Depression was caused by a lack of money among people to purchase goods and services, particularly farmers, and his proposal of issuing prosperity certificates to citizens.
Answer
$25 monthly prosperity certificates to boost economy.
Bill Aberhart and his Social Credit Party proposed giving monthly $25 'prosperity certificates' to every Albertan to boost purchasing power and stimulate the economy during the Great Depression. This idea was based on the belief that the lack of consumer purchasing power caused the economic downturn.
Answer for screen readers
Bill Aberhart and his Social Credit Party proposed giving monthly $25 'prosperity certificates' to every Albertan to boost purchasing power and stimulate the economy during the Great Depression. This idea was based on the belief that the lack of consumer purchasing power caused the economic downturn.
More Information
The Social Credit Party believed monetary reform through basic income could counteract economic depression. While popular, the idea faced challenges in implementation and was eventually abandoned.
Tips
A common mistake is assuming the prosperity certificates were successfully implemented. They faced legal and administrative obstacles.
Sources
- Social Credit | The Canadian Encyclopedia - thecanadianencyclopedia.ca
- Alberta Social Credit Party - Wikipedia - en.wikipedia.org
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