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Paper short abstract:

Care for the loss, Stakeholder Engagement without fear and Cooperation without adversarial nature are essential for human economy. It is time to deconstruct the violence of “calculation”, and justification of Loan/Debts through emphasizing the danger of “polycrisis” by Public Financial Institutions.

Paper long abstract:

The dignity of emotion is marginalized in development projects. Economists have reduced human relationships to mathematical models, disregarding anthropological data, then, debt can be seen as a corrupted promise shaped by "calculation" and "violence" (D. Graeber, 2011). As Matsumoto (2014) says, anthropologists are underrepresented, while economists dominate the Inspection Panel of the World Bank (WB), leading to a "hierarchy of knowledge" and investigative failures.

Structural violence can be found in the accountability mechanisms such as the WB’s Inspection Panel, ADB’s Accountability Mechanisms and JICA’s Objection Mechanism.

This research presents three distinct analyses.

1)How dignity of individuals has been degraded under the “eligibility” judgement as Project Affected Peoples by comparing the accountability mechanisms.

2) How often the voice against the fear, loss and social corruption are rejected by showing the objection case of JICA and the inspection panel cases of WB.

3) How the ADB's Accountability Mechanism generates adversarial effects among its staff during the review process.

After highlighting the limitations of the accountability mechanisms of PFIs, two proposals are presented to conceptualize ideas for deconstructing the violence of "calculation" and the justification of loans/debts, while emphasizing the "polycrisis" by PFIs.

a) Solidarity beyond the "polycrisis": Building long-term relationships that do not adhere to the schedules dictated by policies.

b) Morality of Acceptance and Response: Recognizing and practicing respect for the dignity of phenomena that cannot be fully evaluated or assessed—not only through legal and economic lenses but also through methods aimed at the "adjustment and reconstruction of human relationships."