He later propounded his own philosophy, Lawsonomy, and the Lawsonian religion. He also developed, during the Great Depression, the populist economic theory of "Direct Credits", according to which banks are the cause of all economic woes, the oppressors of both capital and labour. Lawson believed that the government should replace banks as the provider of loans to business and workers. Lawson predicted the worldwide adoption of Lawsonian principles once "everybody understands this subject". His rallies and lectures attracted thousands of listeners in the early 1930s, mainly in the upper Midwest, but by the late 1930s the crowds had dwindled.