New International Economic Order (NIEO)

The New International Economic Order (NIEO), a set of proposals advanced by developing countries through the United Nations in the 1970s calling for a restructuring of the global economic system to give poorer nations greater control over their resources, more favorable terms of trade, and a larger share of global wealth. It peaked in influence around 1974-75 and was ultimately seen as ineffectual, spurring the rise of neoliberal economic policies.

Claims that use this term

• The NIEO threat spurred the neoliberal counterrevolution in development policy
• The NIEO peaked early and was already ineffectual by 1975.
• The NIEO was a Marxist assault weaponized against Western wealth.
• The NIEO effort was widely seen as futile by its own UN insiders.