Abstract
The United Nations has proclaimed the need for a New International Economic Order and a programme of action to achieve it. Neither the objections to the old order nor the proposals for establishing the new order contain much that is different from earlier demands from developing nations. What was new about the Sixth Special Session of the General Assembly of the United Nations, held in April 1974, at which these demands were ventilated, was a change of atmosphere. The oil crisis and the commodity boom of 1973/4 had produced some real change in the balance of power between the developed and the developing nations and a great deal of misconception, too, about the degree of the shift and the likely long-run outcome. The programme of action consists largely of measures which entail sacrifices or concessions — by those countries which are classed as industrially developed — in order to assist the countries of the so-called Third World.
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Notes
See W. J. Blum and H. Kalven, The Uneasy Case for Progressive Taxation (Chicago: University of Chicago Press, 1953)
or R. A. Musgrave, The Theory of Public Finance (New York: McGraw-Hill, 1959) chs 4 and 5.
René Dumont, False Start in Africa (London: André Deutsch, 1966).
Brian Reddaway et al., Effects of UK Direct Investment Overseas: Final Report (Cambridge: Cambridge University Press, 1968).
D. H. Meadows et al., The Limits to Growth (London: Earth Island, 1972).
Stephen Enke, ‘Some Aspects of Slowing Population Growth’, Economic Journal, March 1966, and ‘Economic Consequences of Rapid Population Growth’, Economic Journal, December 1971.
John P. Lewis, Quiet Crisis in India (Washington: Brookings Institution, 1962)
quoted in R. F. Mikesell, The Economics of Foreign Aid (London: Weidenfeld & Nicolson, 1968).
Quoted in H. Magdoff, The Age of Imperialism (New York: Monthly Review Press, 1970).
See Raoul Prebisch, Towards a New Trade Policy for Development (Geneva: UNCTAD, 1964).
This is true despite the significant contributions by scholars such as Edward F. Dennison, Why Growth Rates Differ (Washington: Brookings Institution, 1967).
See R. B. Sutcliffe, Industry and Development (London: Addison-Wesley, 1971).
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© 1978 Alasdair I. MacBean, V. N. Balasubramanyam and the Trade Policy Research Centre
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MacBean, A.I., Balasubramanyam, V.N. (1978). What Challenge?. In: Meeting the Third World Challenge. Trade Policy Research Centre. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-17340-2_1
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DOI: https://doi.org/10.1007/978-1-349-17340-2_1
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