The genesis of the New International Economic Order proposal is rooted in increasing global economic disparities between the rich developed and poor developing nations of the world. The post-war economic arrangements have perpetuated and even widened economic inequality between industrially advanced and economically backward developing nations of the world. This sparked off serious debates and controversies among the developed and the developing nations of the world. The developing nations insist on key structural reforms in all major areas of international economic set up. The international economic development issue thus has been highly politicised and places demands for appropriate reorientation and additional rules for accelerating economic growth of under-developed countries. The present study endeavours to highlights historical background of the emergence of New International Economic Order proposal. It dissects main defects of post war economic arrangements, analyses various reform proposals as incorporated in NIEO programme and surveys the reforms so far achieved in the arenas of international trade, monetary and financial system, international resource transfer and in respect of regulation of multinational corporations and technology trade. The study outlines major impediments obstructing fruitful international negotiations on NIEO. Finally, it sums up the progress so far achieved in respect of implementation of NIEO proposals and highlights the causes for slow and tardy progress achieved in respect of implementation of NIEO proposals and identifies certain areas of mutual interest where immediate measures must be taken for the benefits of both prosperous and poor workers.
Sakti Mukherjee: A brilliant student of Calcutta University, Sakti Mukherjee is better known for his multi-disciplinary approach. After passing the M.A. Examination in Economics, M.A. in Political Science and LL.B. of the University of Calcutta, he was actively engaged in research study in Monetary Economics and obtained Ph.D. Degree in Economics of the University of Calcutta with M.N. Roy Gold Medal. He also stood first in LL.M. Examination of Calcutta University in 1981. It is he who has suggested a case for National Agricultural Development Bank in India in 1978 through a paper entitled “Financial Intermediation and Rural Development in India”. In Indian Economic Conference in Bombay in December, 1978. He was invited in International Conference on Economic Asymmetry held in Rio-de-Jenero during August 9-14-1982. He has written a number of books and articles on Economics, political Science and International Law. At present he s teaching Economic Development and international Economic Law in Calcutta University as a Reader. Indrani Mukherjee: A brilliant student of Lady Brabourne College, Calcutta and Calcutta University, Indrani Mukherjee M.A. Ph.D. worked as U.G.C. Research Fellow of the Calcutta University for a number of years. She apart from her teaching in Calcutta University is now actively engaged in research work in different fields of study. She has written, along with her husband Dr. Sakti Mukherjee a number of Books and Articles on different aspects of Economic, Political Science, International Law and Industrial Sociology. Her recent book Industrial Workers in Developing Society (published by Mittal Publications, Delhi) was widely acclaimed.
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