The New International Economic Order, Utopian Realism, and the Recovery of an Alternative Vision for Global Governance

Abstract

Not so long ago, an alternative to American hegemony and progressive isolationism was elaborated by non-aligned segments of the international left. In the search for potentially usable models from the past, this paper will shed light on the New International Economic Order (NIEO). Promulgated as a United Nations resolution in 1974, and drafted by leaders in the Global South, the NIEO was one of the most widely discussed transnational governance reforms of the twentieth century. This paper will argue that the NIEO was an exercise in utopian realism that fundamentally depended on foregrounding the global security dilemma and defending the legitimacy and lasting utility nation-state. As a result of these commitments, the NIEO's proponents unwittingly self-limited their chances for long-term success on the international stage.