Critical Concepts in the New International Economic Order and Its Impact on the Development of International Economic Law: A Tribute to the Call for a NIEO

Abstract

The movement for the New International Economic Order (NIEO) aroused much political controversy at its inception, challenging some of the fundamental pillars of status quo, in particular, with its advocacy for a more planned international economic system. Analysis of NIEO discourse that followed focuses on historical antecedents of the movement; its international relations setting; and the economic analysis of the means advocated for the development objective. This chapter sets out the outline for a possible future in depth scrutiny of this paper basket of the status and contribution of the NIEO to the development of contemporary international economic law. This scrutiny involves essentially: an examination of the continued persistence of the agenda of the NIEO in the processes involving the development of the contemporary international economic system; and an examination of the extent to which critical concepts of the NIEO are to be found in current international practice. Keywords: International Economic Law; international economic system; New International Economic Order (NIEO); waste paper basket perspective