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Financial inclusion concepts and the theoretical underpinnings
Financial inclusion concepts and the theoretical underpinnings
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The focus of this paper will be on Prosper Canada, and the supporting organizations, and their creation of their project concerning the financial inclusion of newcomers within Canada. The project started in 2009 through the Prosper Canada and gained support and funds from the Immigration, Refugees and Citizenship Canada along with the Social and Enterprise Development Innovations.
Financial exclusion is the inability for citizens to access proper financial services: primarily services and products such as official saving bank accounts or credits cards. A broad range of disadvantages in the lives of these individuals, caused by the failure to have connections with these services, can consist of examples such as the inability to take out loans
The reasons of being able to create this enterprise by Sam out of all of the immigrants in Montreal
Every day, it becomes more common that Mexicans explore Canada in search of better economic opportunities and living standards. However, the phenomenon of immigration, does not correspond at the recent time, on the contrary, it is the result of a whole historical process, which bound directly with the conditions of economic and social inequality in Mexico. Against which, Canada turns out to be a risky, but viable alternative for young and adult population that has not found alternative of use and development sufficient in Mexico. (Agren, 2007) “News of the increased scrutiny hasn't reached Jesus Salazar, the shoe shiner with Canadian dreams. And the opportunity still beckons. Some of his friends have gone to the United States, where he says, "The ‘migra' is always looking for Mexicans." In Canada, he says, "I'd be free as a bird."
One of the biggest factors for immigration is Canada’s economy. Skilled worker immigrants or the Economic class
With the increase in funding, Canadian poverty within Aboriginal society would greatly decrease. The Government should be “proactive in giving aboriginal people in remote communities the support they need to move to areas where they can find jobs and education” (End First). That way, adults would be able to increase their income in order to have a much more fulfilling lifestyle. It is not only adults who need the financial aid, but also the community and children. In order to help, the Canadian Government should make sure more money is being made available for the First Nation education, social interactions such as community centres, and way of living including: housing, roads and availability of healthy food items. “...The poverty rate of status First Nations children living on reserves was triple that of non-indigenous children” (Hildebrandt). Aboriginal children across Canada need the help of Canadian Government in order to lose this poverty and be able to move ahead. “Persistent disadvantages faced by Canada’s aboriginal peoples in regard to education, employment, health and housing are well-documented/the staggering poverty faced by indigenous children is preventable” (Hildebrandt). With enough Government funding, Native children would be able to get better education, social skills and understanding of their traditions and culture. Schools, community centres
In my opinion, social programs are essential to the economic health of both citizens and the country as a whole. Programs such as public education and income support (ex. The GST/HST tax credit for low-income earners) serve as financial equalizers which allow for improved standards of living, and, as a result, increased economic activity. The reasoning behind this is that a more even distribution of wealth results in more consumer spending because money that would otherwise be held in the brokerage accounts of the upper class, for example, are instead used to fulfill the basic needs of the lower class. Additionally, programs such as public healthcare and employment insurance provide financial and psychological stability to citizens and helps to maintain a healthy economy. Although the system can be abused, it does not occur in a majority of cases and I would argue that the benefits outweigh the disadvantages.
The Government of Canada will support all of Canada’s cultures and allow resources to the immigrants who have demonstrated a desire and effort to maintain their own culture and identity.
Canada has a very strong economy. Canada’s dependency on immigrants is because these workers are wi...
The integration of immigrants in Canada (or any country for that matter) involves integration into three different domains: the social sphere, the economic sphere, and the institutional sphere. (12) Integration into the social sphere refers to immigrants’ ability to create relationships and have social interactions with other Canadians. Integration into the economic sphere refers to immigrants’ ability to enter the labour force and work in jobs that match their qualifications, while integration into the institutional domain refers to immigrants’ ability to become “fully functional citizens, without facing systemic barriers emanating from the structure and functioning of major institutions. A well-integrated immigrant group is one which faces no institutional obstacles, no market disadvantage, and no social isolation.” (12)
The controversy over Canada and America, and who takes after whom has been around for many years. Canada and America are puzzles, two countries that are home to millions of people, living in relative comfort and health. We both have become nations through the help of each other and other nations. Yet, Canada has its own identity as a delightful complexity of cultures and customs, government and heroes. On the other hand, Canadians are simply not Americans by government and technology.
Stoffman, Daniel. Who gets in: What's wrong with Canada's immigration program, and how to fix it. Toronto: Macfarlane Walter & Ross, 2002.
Borjas, George J., and Stephen J. Trejo. “Immigrant Participation in the Welfare System.” Industrial and Labor Relations Review 44.2 (1991): 195-211. JSTOR. Cornell University, School of Industrial & Labor Relations. Web. 13 Feb. 2011. .
Financial=total economic resources that must be spent or invested as a consumer. An example of Financial buying is a house. at the moment I want to purchase a new house, but the houses i like are out of my price range which is considered a luxury purchase.
Canada is a great place to live, because it is very diverse. country. The sand is a sand. It is multicultural, it’s considered a Melting Pot. Many people from many nations come together to make this country special and unique to us.
Per the textbook, p. 113 states “in the fringe economy, economic distress and low credit scores translate into high cost that are justified by the supposedly higher risk of serving poor or credit challenged population.” Moreover, on p. 118 “the poor pay more than the middle class for financial services…and the costs are aggravated by a dual financial system, one for the poor and one for middle and upper classes.”
Social exclusion is the exclusion of an individual from the current social system, their individual rights and privileges. This is usually a result of a person living in poverty due to circumstances he or she has no control over, or their own human error. Becoming socially excluded can also be the result of the individual belonging to a minority social group. Social exclusion refers to individuals whom are excluded from certain aspects of social life such as employment and social relations. This can be due to reasons such as whether or not the individual would like to participate in social activities, or whether he or she is unable to participate in social activities for reasons which are beyond their control, such as a disability (Burchandt et al. 2002). Social exclusion can be a major problem, studies have shown that being socially excluded from a group/s in fact activates particular areas of the brain, areas which would usually only be activated by physical pain (Eisenberger et al, 2003). Not only can social exclusion have negative effects on an individuals mental health and wellbeing, but it can also cause exploitation, oppression and marginality. Social exclusion also prevents equality, fairness and social justice.