WHAT NEW INTERNATIONAL ECONOMIC ORDER?

Paul Streeten

Pakistan Journal of Applied Economics, 1982, vol. 1, issue 2, 123-156

Abstract: The article attempts to map out the basis for a constructive response of the North to the call of the South for a New International Economic Order. It identifies the principal reason for the present disorder as a lag of institutions behind the reality of the last two decades of the twentieth century. The framework of the analysis is a distinction between an exchange system, (positive sum games), a threat system (avoidance of negative sum games), and an integrative system (zero sum games). The important issues lie within the last two. Negative sum games are caused by the existence of nation states without appropriate global institutions. In the area of zero sum games, the analytical basis is seen in the acceptance of universal principles rather than in national self interest. Areas for reform include correcting biases in the international system, concessional transfers and more voice.

Date: 1982
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