Summary of an Act
World Legislative Act #22
Act for Promotion of Economic Equity
within the Earth Federation
with global standards for wages and salaries
Economic Equity Act
Adopts Act for Promotion of Economic Equity through Global Living Wage with global standards for wages and salaries.
1. Requires Earth Federation to calculate gross domestic product. Defines gross economic product (GEP) of Earth Federation as sum total of productive and service activities that serve actual production of wealth within Earth Federation, excluding factors that actually detract from increased wealth.
2. Requires Earth Federation to calculate number of hours worked by all workers within Earth Federation and divide GEP by total work hours spent to produce that GEP to get average wage per hour worked. Defines this figure as Federal Wage and Price Standard.
Defines Earth Currency value to tie to Federal Wage and Price Standard so that Earth currency value does not fluctuate through speculation, inflation, or manipulation. Universally defines standards.
3. Requires annual review of maximum and minimum wage or basket of commodities.
4. Requires annual recalculation of definition of “full time work” as average hours worked per worker-week to produce the GEP minus percentage rate of unemployment within Earth Federation.
5. Sets highest legal limit of personal income, including investment income as no more than four times that of minimum wage.
6. Requires excess income to be either taxed off or delivered to business or non-profit organization.
7. Permits salary differentials only on experience, competency and merit.
8. Declares aim of living wage.
9. Defines Salary Scales for personnel of all organs, departments, bureaus, offices, commissions and agencies of Earth Federation. To begin, minimum wage is set at ө0.25 per hour and maximum wage is set at ө1.00 per hour. Minimum wage is set at &0.50 per hour and maximum wage is set at &2.00 per hour. [amendment from 10th session of Provisional World Parliament.]
10. Requires maximum and minimum wage compliance in acceptance of private contractors’ bids.
11. Requires Earth Federation agency promotion to persons and groups that are seeking global standards and world currency, to build network for launching new currency system.
12. Defines process for determination of World Parliament salaries within limits of minimum and maximum wage, and under popular electoral control by plebiscite.
This act was adopted by the Seventh Session of the Provisional World Parliament, Chennai, India, December 2003. The act was amended 11 August 2004 at the eighth session of the Provisional World Parliament, convened at City Montessori School, Lucknow, and amended again at 10th Session of the Provisional World Parliament, convened at Kara, Togo, West Africa.
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The act was adopted as World Legislative Act Number 22 at the Seventh Session of the Provisional World Parliament convened in conformance with the Constitution for the Federation of Earth in December 2003, in Chennai, Tamil Nadu, India. Act #22 was amended at Eighth and Tenth sessions of the Provisional World Parliament.
Eugenia Almand, JD, Secretary
Provisional World Parliament