Transition to a New World Economic Order Part I: The Framework

Abstract

The idea of a new world order suggests political and economic changes that would improve the lot of all the people in the world. Such a new world order would address all causes of poverty and inequality both within nations and between nations. Desirable changes would modify present competitive patterns of organisation and substitute more cooperative systems and processes. Writers in this area focus particularly on how to change the current state of the world in order to achieve a transition to a more desirable new world order. From an economic point of view, this transition could be interpreted as an attempt to frame new political, economic and social institutions and rules of conduct that would enable the equity goals of the proposers to be achieved.