Legal Aspects of a Projected New International Economic Order: Introduction

Extract

The theme chosen by the T.M.C. Asser Institute for today's symposium reads “Legal aspects of a projected new international economic order”, In my opinion this is a courageous choice. As far as I know, the Institute has in the past always chosen topics that permitted unequivocal definition. It is not immediately obvious that such is the case with our present subject. In my view a more democratic and equitable international economic order than the present one would be highly desirable. But it is one thing to express such a preference. A different thing althogether is to assume that “a new international economic order” as a concept is already part of social reality and is, therefore, suitable for legal discussion. To me personally, this assumption would appear to be as yet premature. However, the particularization in our theme of the new international economic order as a “projected” one puts things in a different light, for this must mean that we have to envisage our new international economic order in terms of three important resolutions of the United Nations General Assembly taken in 1974.1 am referring to the Declaration and the Programme of Action concerning the Establishment of a New International Economic Order and to the Charter of Economic Rights and Duties of States. All three resolutions having been adopted by “consensus” of the General Assembly, the question arises as to what legal significance can be attributed to them.