18. The Law of the Sea Treaty (LOST) was an NIEO initiative that the Reagan administration strongly opposed as a particularly misguided and dangerous element of the G-77 platform. President Clinton signed the treaty in 1994, but it has not been ratified by the Senate. See Eckert (1979) for an early assessment of the treaty and Bandow (2005) for a more recent statement of opposition.

Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, loc. 1834