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Article(electronic)#12July 14, 2022
Lessons of the New International Economic Order for the Contemporary World Economy
In: Teorija in praksa, p. 411-442
Although the new international economic
order (NIEO) has mostly been assessed as a failure, its
ideas still seem relevant in today's crisis environment.
The new context clearly shows that the existing liberal
international order is ineffective and calls for deep
changes like in the times of the developing countries'
fight for the NIEO. The article considers whether its
principles remain of relevance today, which ones have
been amended and which should be newly introduced,
all based on NIEO-related lessons. Dilemmas between
international law or a rules-based order as a framework for global governance and whether the proposed
new inclusive global economic order is to be based on
values (and if so, which) are evaluated.
Keywords: new international economic order, new
inclusive global economic order, rules-based order, values, principles, international law, global governance,
lessons
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