The NIEO peaked early and was already ineffectual by 1975.

Evidence

The period between late 1973 and 1975 was not the germinating stage of the new international economic order advocated by the G-77, but rather the high-water mark of what proved to be a brief and ultimately ineffectual period of reform. While in retrospect it may appear obvious (and to some, inevitable) that this challenge to the existing order would prove unsuccessful, the NIEO’s fate seemed far less certain at the time. In fact, when the Seventh Special Session of the General Assembly was held in September 1975, some delegates and analysts judged the NIEO’s prospects for success as moderately bright. The tone of the G-77 at the Session was less confrontational than it had been a year prior, as suggested by the Group’s decision to omit from the position paper it prepared for the meeting a few of the more controversial items on the NIEO agenda, including permanent sovereignty over natural resources, producers’ associations, and control over multinational corporations. — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 1746

Categorization

• XREF: Connects to the book’s broader arc — the failure of the South’s challenge to the liberal order is commonly read as the backdrop to the neoliberal ascendancy that Mont Pèlerin’s network pushed. — connects to: The 1981 Cancún summit marked the NIEO’s political end — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin: The Making…, 1750; The NIEO effort was widely seen as futile by its own UN insiders. — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin: The Making…, 1790

Broader Connections

• The 1981 Cancún summit marked the NIEO’s political end #corroborates (0.85) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 1750