By 1980, members of the Economic and Social Council were expressing dissatisfaction with the pace of the Code-drafting effort, noting in an ECOSOC resolution (1980/60) that “the progress made in the formulation of a code of conduct has not met the expectations of all.” The same resolution went on to urge an expeditious conclusion to the process, concluding that “a universally accepted, comprehensive and effective code of conduct . . . will make an essential contribution to the new international economic order.” Work on the Code continued, at least nominally, throughout the 1980s, but prospects for success were rapidly diminishing (Fatouros 1980; Hamilton 1984). Although agreement on two-thirds of the draft Code had been reached, the distance separating the Northern and Southern positions on the remainder was substantial.

Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, loc. 1796