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Books > Social sciences > Sociology, social studies > Social issues
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Threat to Development - Pitfalls of the NIEO (Hardcover)
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Threat to Development - Pitfalls of the NIEO (Hardcover)
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Far from transferring resources from the rich to the poor, as
intended, the New International Economic Order (NIEO)-if fully
implemented-is more likely to transfer them from the poor to the
rich. Thus assert the authors, who present their analysis of trade
and investment data in support of their conclusions. The NIEO, a
program adopted by the United Nations, proposes increased prices of
primary products, tariff preferences for exports of less developed
countries to the industrial world, a code of conduct for
multinational corporations, international monetary reform, debt
forgiveness or rescheduling for the third world, plus a number of
other provisions designed to help third world countries. But, the
authors contend, all these provisions will further enrich the
already rich within the third world, while adding to the poverty of
the already poor. Higher prices for primary products would benefit
the rich producers at the expense of the poor who buy them. Debt
rescheduling would help only those rich enough to incur debt in the
first place; because aid is available in finite quantities, this
help might be at the expense of the poor. Likewise, trade
preferences would also help the rich, who are the major exporters.
The NIEO has been widely acclaimed in industrialized as well as in
third world countries; this book demonstrates how the effects of
the NIEO could well be the opposite from what is widely believed.
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