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Inequality, Democracy, and the Environment$
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Liam Downey

Print publication date: 2015

Print ISBN-13: 9781479850723

Published to NYU Press Scholarship Online: September 2016

DOI: 10.18574/nyu/9781479850723.001.0001

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The World Bank, the International Monetary Fund, and the Environment

The World Bank, the International Monetary Fund, and the Environment

(p.62) 3 The World Bank, the International Monetary Fund, and the Environment
Inequality, Democracy, and the Environment

Liam Downey

NYU Press

This chapter examines how globalization produces social and environmental consequences as a result of specific decisions made by powerful actors in a set of elite-controlled institutions that have worked very hard to create a global neoliberal order, with particular emphasis on the World Bank and the International Monetary Fund (IMF). It argues that the World Bank and the IMF play a theoretically similar role in causing social and environmental harm as do elite-controlled organizations and mechanisms. It also suggests that both institutions are not only the product of OINB inequality and various elite-controlled organizational networks, but also important elite-controlled mechanisms in their own right. It also considers the role, if any, played by economic elites in the United States in promoting structural adjustment, as well as how the mainstream news media keep citizens largely uninformed about how U.S.- and elite-dominated international institutions affect people and the environment around the world.

Keywords:   globalization, World Bank, International Monetary Fund, environmental harm, elite-controlled organizations, OINB inequality, elites, United States, structural adjustment, mainstream news media

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