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World Economic Survey 1975

Fluctuations and Development in the World Economy

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World Economic Survey 1975 takes a closer look at the fluctuations and development in the world economy in the first half of the 1970s. The 1971-1975 period was one of great instability in which short-term problems and emergencies tended to pre-empt the attention of policymakers. The Survey also looks ahead to the second half of the decade and the efforts needed to restore more stable growth and improve the national and international division of labour and distribution.

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Foreword

The International Development Strategy for the Second United Nations Development Decade — adopted by the General Assembly in resolution 2626 (XXV) on 2k October 1970 — calls for a biennial review and appraisal of performance and progress. Two such cycles have been completed. In 1973 the Secretary-General presented an empirical analysis of Implementation of the International Development Strategy 1/ and a report on The International Development Strategy: First Over-all Review and Appraisal of Issues and Policies. 2/ In December 1973 the General Assembly completed its first review and appraisal with the adoption of resolution 3176 (XXVIIl). In 1975 a second empirical analysis was presented as Part One of the World Economic Survey; it was entitled Mid-term Review and Appraisal of Progress in the Implementation of the International Development Strategy. 3/ The General Assembly undertook its own review and appraisal and in December 1975 adopted resolution 3517 (XXX) which, inter alia, decided to include on its provisional agenda for the thirty-first session an item entitled “Revision of the International Development Strategy for the Second United Nations Development Decade” in the light of the Programme of Action on the Establishment of a New International Economic Order and other recent declarations, requesting the Secretary-General to submit appropriate documentation for this purpose.

English

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