DoomsdaysCW<p>From the Bretton Woods Project: <a href="https://kolektiva.social/tags/Growth" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Growth</span></a>-based model <a href="https://kolektiva.social/tags/unsustainable" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>unsustainable</span></a></p><p>"In general, the growth-based approach to poverty reduction that the World Bank and IMF both promote has immense environmental consequences, as is evidenced by the deepening climate crisis. As noted by former World Bank Chief Economist Sir Nicholas Stern in 2007, 'Climate change is a result of the greatest market failure the world has seen.' Since their inception, the BWIs have played a formative role in aiding and abetting the global forces that have caused this market failure, through promoting economic growth as the core component of their development model, despite – as noted in the aforementioned Deaton report – mixed evidence that economic growth and poverty reduction are linked. While the Bank, and to a lesser extent, the Fund, have both increasingly tried to account for environmental and climate factors in their work over recent decades, these efforts have largely been limited to attempting to integrate these concerns into a growth-based development model."</p><p><a href="https://kolektiva.social/tags/DeGrowth" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DeGrowth</span></a> <a href="https://kolektiva.social/tags/ClimateChange" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ClimateChange</span></a> <a href="https://kolektiva.social/tags/ClimateCrisis" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ClimateCrisis</span></a> <a href="https://kolektiva.social/tags/IMFLoanSharks" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>IMFLoanSharks</span></a> <a href="https://kolektiva.social/tags/WorldBank" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>WorldBank</span></a> <a href="https://kolektiva.social/tags/EnvironmentalDegradation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EnvironmentalDegradation</span></a> <a href="https://kolektiva.social/tags/CorporateColonialism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>CorporateColonialism</span></a></p>