Interestingly, Robert Heinlein may have originated the term in 1947, in an essay titled "On the Writing of Speculative Fiction" in Of Worlds Beyond edited by Lloyd Arthur Eshbach from Fantasy Press and later reprinted by Advent.
We forgive him.
When OUSFG was founded in the '60s it had to have Speculative Fiction in its title, as the Oxford proctors found science fiction unacceptable.
An even stuffier term is Literature of the Fantastic.
See also: Slipstream.
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