The 1974 NIEO demanded commodity price controls, technology transfers, and debt forgiveness.

Evidence

A particular target of LSF’s campaign was the demand for postcolonial economic restructuring that found its most important expression in the Non-Aligned Movement-sponsored proposal for a ‘New International Economic Order’ (NIEO). Adopted by the United Nations General Assembly in 1974, the NIEO declaration aimed at an international economic order ‘which shall correct inequalities and redress existing injustices’. The NIEO consolidated the postcolonial demand for a right to economic self-determination, examined in Chapter 3. Its ambitious programme for reorganising the postcolonial international economic order amounted to a neoliberal nightmare defined by effective control over natural resources, regulation of the activities of multinational corporations, just commodity prices, technology transfers, debt forgiveness and monetary reform. — Jessica Whyte, The Morals of the Market, 380

Categorization

• XREF: connects to: The 1970s NIEO represented developing countries’ collective demand for redistribution and sovereignty. — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin: The Making…, 163