Evolution of international economic law
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Introduction
The history of International Economic Law is the history of Economic Development itself. Over the last 100 years, elements have moved from tariff and trade issues through nationalization and into sustainability as values, complexities and technology have evolved.Initially, nations looked at the full development of their own economies. During the colonial period, the ability to leverage (or exploit for economic gain) the colonial economies and the ability to control these elements became central to international economic law. During decolonization, the challenge was a dynamic and sometimes military tension between formerly colonial holdings and the former colonizing powers over the control of natural resources and the economy. As we move through the early parts of the 21st Century, issues have moved from colonial control to environmental exploitation, income inequality, development and free trade.
Sustainable Economic Development – Emergence
Because of the economic focus of control of economic resources post-colonialization, there were few elements of international economic law that dealt with sustainable development. In 1962, the UN General Assembly adopted a UNESCO resolution calling on nations to pass domestic laws protecting native flora and fauna (Resolution 1831(XVII)), however, little else was done. The focus was on the sovereign’s ability to exploit freely and control their own resources in accordance with their own development policies.
Economic control became a key element of many human rights based resolutions and legislation as well. In several treaties and resolutions:
1966 International Covenant on Civil and Political Rights
1966 International Covenant on Economic, Social and Cultural Rights
1974 New International Economic Order
1974 Charter of Economic Rights and Duties of States
1981 African Charter on Human and People’s Rights
it was recognized that economic and human rights elements were inexorably intertwined, and sustainable development was a component of both.
Traditionally, sustainable development was not addressed at all in international economic law. The idea that sustainability belonged within the economic law elements emerged during this period as impacts of development took their toll on the economy. The UN Charter’s goals to achieve higher standards of living for all peoples of the world and address problems of an economic character provided the locus of influence to be able to begin to integrate sustainability into the economic discussions.
Initially, the UN provided limited technical assistance in the form of people and technology from 1945 to the mid-1950’s. As nations began to exercise their economic sovereignty from the mid 1950’s through the mid 1970’s, the international community began to develop more robust methods for assistance, including organizations such as UNCTAD (the United Nations Conference on Trade and Development), and looking to add reforms and increased responsibility to organizations such as the Bretton Woods organizations to assist developing nations. There was a strong desire to add a development mission into the GATT framework as well.