🌐IMSPARK: A Pacific Future with Inclusive Financial Systems🌐

🌐Imagine… A Pacific Future with Inclusive Financial Systems🌐

💡 Imagined Endstate: 

The Pacific region has successfully built an inclusive financial system that provides access and opportunity for all its residents, especially the low-income, unbanked, and underserved populations. The region has fostered a culture of innovation, trust, and leadership, where financial services and products are designed and delivered to meet the diverse and evolving needs of the people.

🔗Link:

Ref Here

📚Source: 

Wallace, M.,  Borġ, E., & Griffin, K.  (2023). Building an inclusive financial system: A global economic & social imperative for this decade. Aspen Institute. 

 

💥 What's the Big Deal: 

Wallace et. al (2023) report reveals that an inclusive financial system is essential for achieving global economic and social goals, such as reducing poverty, promoting equality, and enhancing resilience.🏦The report also identifies an inclusive financial system's key elements and challenges, such as access, affordability, quality, diversity, and regulation. 🚀The report proposes a framework and a roadmap for action to advance inclusive financial systems at the global, regional, and national levels.

 An inclusive financial system is a crucial opportunity for the Pacific region, as it can provide a reliable and nutritious source of protein for its growing population, especially in the face of climate change, overfishing, and marine pollution. 🌅The Pacific region can enhance its economic growth, social cohesion, and political stability by building an inclusive financial system.💸An inclusive financial system can also support the region's innovation, trust, and leadership, providing access to well-being and prosperity.

 #InclusiveFinancialSystem,#WealthEquity,#PacificDiversity,#Access,#Opportunity,#Innovation,#IMSPARK, #Unbanked, #low-income, #underserved,#RICEWEBB,

💳 IMSPARK: A Pacific Future with Inclusive Financial Systems💳

💳 Imagine… A Pacific Future with Inclusive Financial Systems💳 

💡 Imagined Endstate: 

The Pacific region has successfully built an inclusive financial system that provides access and opportunity for all its residents, especially the low-income, unbanked, and underserved populations. The region has fostered a culture of innovation, trust, and leadership, where financial services and products are designed and delivered to meet the diverse and evolving needs of the people.

🔗Link: 

Ref Here

📚Source: 

Wallace, M., & Rademacher, I. (2023). Building an inclusive financial system: A global economic & social imperative for this decade. Aspen Institute. 

💥 What’s the Big Deal: 

The report by Wallace and Rademacher (2023) reveals that an inclusive financial system is essential for achieving global economic and social goals, such as reducing poverty, promoting equality, and enhancing resilience. 🌏The report also identifies the key elements and challenges of an inclusive financial system, such as access, affordability, quality, diversity, and regulation. 🙌 The report proposes a framework and a roadmap for action to advance inclusive financial systems at the global, regional, and national levels. ⚖️An inclusive financial system is a key opportunity for the Pacific region, as it can empower its residents to participate in and benefit from the digital economy, especially in the face of global challenges such as climate change, health crises, and digital divide. 💻 By building an inclusive financial system, the Pacific region can enhance its economic growth, social cohesion, and political stability. 💰 An inclusive financial system can also support the region’s innovation, trust, and leadership, and enable more people to access financial services and products that improve their well-being and prosperity.

#InclusiveFinancialSystem, #PacificFuture, #Access, #Opportunity, #Innovation, #Apsen,#WealthEquity,#IMSPARK,#RICEWEBB,

🙌IMSPARK: Wage Equity for All in the Pacific 🙌

 🙌Imagine… Wage Equity for All in the Pacific 🙌

💡 Imagined Endstate: 

The Pacific region has successfully achieved wage equity for all workers, regardless of their gender, race, ethnicity, or other characteristics. The region has fostered a culture of fairness, opportunity, and inclusion, where everyone is paid fairly and equitably for their work.

🔗Link:

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📚Source: 

Wage and Hour Division, DOL. (2021). Independent contractor status under the Fair Labor Standards Act. Federal Register, 86 (4), 1168-1248. 

💥 What’s the Big Deal: 

The rule by the Wage and Hour Division (2021) revises the interpretation of independent contractor status under the FLSA, which requires covered employers to pay their nonexempt employees at least the federal minimum wage and overtime pay, and to keep certain records regarding their employees. 🌟 The rule adopts an “economic reality” test that focuses on two core factors: the nature and degree of the worker’s control over the work, and the worker’s opportunity for profit or loss based on initiative and/or investment.💸 The rule also identifies three other factors that may serve as additional guideposts: the amount of skill required for the work, the degree of permanence of the working relationship, and whether the work is part of an integrated unit of production. Wage equity is a key aspect of income inequality, as it affects the economic and social well-being of workers and their families, especially the most vulnerable and marginalized groups.🌈 By achieving wage equity, the Pacific region can enhance its economic growth, social cohesion, and political stability. Achieving wage equity can also support the region’s resilience to global challenges such as climate change, health crises, and digital divide.

#WageEquity, #PacificFuture, #Fairness, #Opportunity,#Inclusion,#IMSPARK,

💸 IMSPARK: A Pacific Future with Reduced Income Inequality💸

💸 Imagine… A Pacific Future with Reduced Income Inequality💸 

💡 Imagined Endstate: 

The Pacific region has successfully narrowed the income gap between the rich and the poor, as well as between different racial and gender groups. The region has fostered a culture of fairness, opportunity, and inclusion, where everyone has a decent standard of living and a chance to thrive.

🔗Link:

Ref Here

📚Source: 

McKay, L. C. (2023). The state of income inequality. Federal Reserve Bank of Minneapolis. 

💥 What’s the Big Deal: 

The article by McKay (2023) reveals that income inequality in the U.S. has been rising over the past 50 years, especially among the highest earners. 📈 The article also shows that income inequality varies across states, by gender, and by race, with Black incomes lagging behind White incomes in every state. 🌈 The article suggests that government redistribution has helped to mitigate, but not eliminate, the income disparities.💰Income inequality is a key challenge for the Pacific region, as it affects the economic and social well-being of its residents, especially the most vulnerable and marginalized groups. ⚖️By reducing income inequality, the Pacific region can enhance its economic growth, social cohesion, and political stability. Reducing income inequality can also support the region’s resilience to global challenges such as climate change, health crises, and digital divide.

#Income, #FRB, #WealthEquity#PacificFuture, #Fairness, #Opportunity, #Inclusion,#IMSPARK,