World Legislative Bill Number Two

Enacted on 12 September, 1982, at the

First Session of the Provisional World Parliament

Bill to Inaugurate

A World Economic Development Organization

WHEREAS,

Economic development to achieve better living conditions is a

primary concern of most of the People of Earth;

Adequate and equitable and sustainable world economic development

is the other half of the disarmament equation, since adequate

economic development can provide the conditions requiredd for a

peaceful world society, and disarmament is required to apply

resources for development;

The world is on the verge of extreme financial crisis, which

greatly affects the lives and livelihoods of everybody, requiring

new approaches to financial procedures which are designed to serve

maximum human welfare;

The conditions of economic development are also related to

protection of the environment, renewable energy supplies, human

equity, and democracy;

The World Parliament and the Provisional World Parliament are

specifically authorized to proceed with a World Economic

Development Organization, and related financial institutions,

under the Constitution for the Federation of Earth, specifically

pursuant to Article 19, Sec. B-5, and Sec. E-5 and 6, and to

Article 17, Sec. C-9 and Sec. C-10-e.

The inauguration of an adequate and effective World Economic

Development program by the Provisional World Parliament could

expedite acceptance of the Constitution for the Federation of

Earth, and may also provide a key to financing subsequent sessions

of the Provisional World Parliament and World Constituent

Assembly, as well as the campaign for ratification of the

Constitution for the Federation of Earth.

THEREFORE, This first session of the Provisional World Parliament, convened

under Article 19 of the Constitution for the Federation of Earth, enacts

this Bill to inaugurate a World Economic Development Organization (WEDO),

together with related and appropriate global financial institutions, under

the following conditions:

A. Scope

WEDO is conceived in terms of carrying forward a very adequate program

of world economic development to meet peaceful human needs, with a

development budget of at least two hundred billion dollars (U.S.)

dollars per annum in the very near future, although the first years

budgets may be less.

Since adequate and effective world economic development in terms of

peaceful human needs can only be carried out in the context of

non-military world federation, WEDO shall be designed as an integral

part of the process of world federation. Accordingly, WEDO shall be

organized to serve only those countries and people who ratify or give

provisional ratification to the Constitution for the Federation of

Earth. (Article 19, Sec. B-5, CFE)

B. Funding

Capital funds for the operation of WEDO shall be sought from the

following sources, but not limited thereto:

1. Appropriations or subscriptions from participating countries, on

the basis that any country can afford to make an appropriation or

subscription of up to one-fourth the amount that it simultaneously

reduces from its military budget.

2. Appropriations or subscriptions from oil-rich countries and other

countries with surplus budget which may have surpluses which they

want to have invested in a World Economic Development Program

designed particularly to achieve a new World Economic Order, which

will enable the less developed countries to realize greater

economic equity.

3. Deposits by thousands and eventually millions of people who wish

to deposit their money with financial institutions which are

designed to serve exclusively peaceful human needs.

4. In due course, development of the financing potential and

procedures defined under Article 8, Section G, paragraphs (d),

(e), (f) of the Constitution for the Federation of Earth, which

bases financing on potential productive capacity in both goods and

services, rather than on past savings, this being the key to the

development of an equitable new world economic order.

C. Banking and Credit

WEDO shall be developed and supervised by a Board of Directors

consisting of up to 33 members, composed as follows:

o 6 Members of the Board shall be elected by the Provisional World

Parliament, or World Parliament for terms of 5 years.

o Up to 21 Members of the Board (to be called "subscriber members")

shall be designated by the first 21 countries ratifying or giving

provisional ratification to the Constitution for the Federation of

Earth, and making a subscription to WEDO equal to at least 25% of

their last military budgets, or 2% of GNP, to serve terms of 3

years.

o 6 Members of the Board shall be named by the agencies of the

Integrative Complex, and in particular by the World Financial

Administration, when formed (Article 8 of the CFE), to serve terms

of 5 years.

The Board of Directors shall meet quarterly, and shall elect its own

officers. One-third of the members from each category will be replaced

by new members at the end of their respective terms. No one shall serve

more than 3 consecutive terms. The members leaving the Board shall be

determined by ballot of the Board.

D. Administration

The Board of Directors shall define and select the Administration for

WEDO.

E. Subscribers Council

Each country ratifying or giving provisional ratification to the

Constitution for the Federation of Earth, and making a subscription to

WEDO equal to at least 25% of its military budget or 2% of its GNP, or

more, shall name a Member to the Subscribers Council.

Replacements of the "subscriber members" of the Board of Directors,

after first terms are served, shall be made by election of the

Subscribers Council.

F. Consultants

WEDO may establish a roster of consultants in various fields of

expertise, and may retain some outside agencies or institutions on a

consulting basis.

WEDO shall in particular utilize the services of the Agency for

Research and Planning, the Agency for Technological and Environmental

Assessment, and the World Financial Administration of the Integrative

Complex, as provided under the Constitution for the Federation of

Earth.

G. Projects

Each country making a subscription to WEDO shall be invited to submit

projects for approval and financing by or through WEDO.

States, communities, districts, cooperatives, corporations,

universities and other bodies or individuals may also submit projects

for approval and financing by or through WEDO.

In addition, WEDO shall prepare a roster of projects which seem

desirable, and may invite the participation of public of private

agencies to carry them out.

WEDO shall consider and assist only projects to be developed and

carried out by or within countries which have ratified or given

provisional ratification to the Constitution for the Federation of

Earth, or by communities, corporations, cooperatives, states,

universities, or other bodies or agencies which have ratified or given

provisional ratification to the Constitution for the Federation of

Earth.

H. Criteria

WEDO shall use the following criteria in evaluating projects:

a. Non-military and peaceful purposes.

b. Contribution to supplying or servicing genuine human needs.

c. Equitable distribution of benefits and renumerations.

d. Employment of people needing employment.

e. Utilization of available resources, manpower, brainpower, and

technology.

f. Conservation and protection of the environment.

g. Utilization of renewable and non-polluting sources of energy.

h. Correction of the present imbalance between raw material producing

and finished goods producing countries or areas.

i. Technology transfers to improve condititions in less developed

countries or areas.

j. Decentralization as compared with excessive urbanization.

k. Democratic controls.

I. To Begin

WEDO shall commence operations as soon as 10 countries have subscribed

or $200,000,000 is obtained. Meanwhile a secretariat shall be employed

and shall do preparatory work as soon as $50,000 is obtained.

J. Parliamentary Commission

A WEDO Parliamentary Preparatory Commission shall be appointed by the

continuation Steering Committee for the Provisional World Parliament,

and authorized to prepare further details for the organization and

operation of WEDO, together with related financial institutions, and to

bring any recommendations before the next session of the Provisional

World Parliament. The work of the Provisional Preparatory Commission

shall be consistent with and not in violation of the Constitution for

the Federation of Earth.

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