In terms of content, the NIEO platform represented more continuity than change, as it contained vague proposals for reform that the G-77 had advocated for some time. However, what was different, and dramatically so, was the international context in which the Third World was making its demands. The vertiginous increase in the price of oil engineered by OPEC in late 1973 created a perception on the part of several key G-77 members that the balance of international power had tilted in their favor.

Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, loc. 1740