A Forty-Year Fight for a New World Economic Order by Matthew Ogden

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A Forty-Year Fight for a New World Economic Order by Matthew Ogden EIR The LaRouche Record A Forty-Year Fight for a New World Economic Order by Matthew Ogden For over four decades, Lyndon LaRouche has provided Water and Power Alliance (NAWAPA). the intellectual and political leadership in the fight for a A partial timeline of LaRouche’s role in leading the new international economic order for the planet, for the fight for a new world economic order, with an emphasis purpose of ending the historic imperial control by mon- on international initiatives, is chronicled below. The etarism and unleashing mankind’s creative powers as a chronology is based on a more extensive version at species. larouchepac.com, which has many links to excellent The profound impact of LaRouche’s intellectual documentary material, including the original articles, leadership is clearly reflected in the current actions speeches, and videos. being taken by the BRICS nations (Brazil, Russia, India, China, South Africa) and others to create a new global financial architecture and strategic alliance The 1970s among nations, with the recent establishment of the New Development Bank and related developments. LaRouche Calls for International Development The July 15-16, 2014 BRICS summit in Fortaleza, Bank Brazil was a turning point in this process, as EIR has At press conferences in reported at length. April 1975 in Bonn, Ger- The LaRouche movement in the United States has many and Milan, Italy, La- campaigned throughout this 40-year period for this Rouche presents his plan country to return to its American System tradition, as for “the immediate estab- enunciated by President John Quincy Adams and lishment of an Interna- others, and join the fight for a global community of sov- tional Development Bank ereign nations in the interests of all: a new, just world as an agreement among the economic order. These U.S. initiatives have notably in- three principal world sec- cluded the call for Russian-American cooperation in tors—the industrialized the Strategic Defense Initiative; a New Bretton Woods capitalist sector, the so- financial system; the reinstatement of the Glass-Stea- called developing sector, gall Law to destroy the Wall Street monetarist faction; and socialist countries.” LaRouche in 1975 detailed the Homeowners and Bank Protection Act of 2007; and He specifies that the im- his proposal for global such development projects as the North American mediate concentration of financial cooperation. 30 The LaRouche Record EIR October 24, 2014 new international monetary and finan- cial system to replace the International Monetary Fund and provide capital for Third World development through the creation of a Bank of the Develop- ing Countries, as well as a debt mora- torium for the least developed coun- tries whose outstanding debts at the time made economic development The summit of the Non-Aligned Movement in Colombo, Sri Lanka. for those nations impossible. The heads of state of the Non-Aligned na- the investment thus made possible should be indus- tions declare that this summit represented: “. a new trial development and expanded food production step for the establishment of the new world economic worldwide. order, and in particular, the essential element of such a LaRouche predicts that the present, or then-exist- new order, a new monetary and financial system.” ing, international monetary system of the IMF, would In her keynote address to the summit, Sri Lankan inevitably go bankrupt, and should be replaced by a dif- Prime Minister Sirimavo Bandaranaike endorses the ferent credit-creating institution, namely, an Interna- establishment of a development bank for the Third tional Development Bank (IDB), to facilitate long- World: “The developing countries are consistently term, low-interest credit for capital investment and denied the true value of their output by the vagaries of capital-goods transfer from the industrialized sector to the international market and the manipulations of inter- the so-called developing sector, in order to overcome national finance. The developed countries have shaped the underdevelopment of Africa, Latin America, and the international financial system to suit their interests. large parts of Asia. Should we in the developing world sustain such a LaRouche issues a policy document for interna- system? Should we not, instead attempt to develop a tional circulation titled “IDB: How the International system all our own? . One area of great promise, Development Bank Will Work,” in which he writes that would be the establishment of a commercial bank—a two immediate, interconnected actions are imperative: Bank for the Third World—the bank of Asia, Africa, 1. The declaration of a commitment to sweeping re- and Latin America. This would not be another non- organization of the world monetary system, involving aligned solidarity fund. It would be a genuine commer- an orderly process of debt moratoria and the establish- cial bank and a truly multinational enterprise.” ment of an institution such as the proposed Interna- tional Development Bank (IDB). Guyana’s Wills Calls for International 2. Immediate commitment to enact, within each na- Development Bank at UN tional sector of the capitalist world, these measures of Immediately following the Colombo Summit, the emergency financial-reorganization legislation re- Foreign Minister of quired to facilitate immediate economic recovery in Guyana, Frederick conjunction with IDB efforts. Wills, addresses the United Nations Gen- Non-Aligned Movement Endorses New eral Assembly in New International Economic Order York, on Sept. 27, Within months, 85 nations, representing 2 billion 1976, and calls for a people, meet in Colombo, Sri Lanka for the Fifth new international eco- Summit of the Non-Aligned Movement and issue a nomic order through unanimous declaration calling for a new international the creation of an in- economic order on Aug. 19, 1976, identical in many ternational develop- EIRNS Frederick Wills, foreign minister regards to LaRouche’s proposals spelled out in his ment bank and a debt of Guyana, calls for an policy document from the preceding year. moratorium for the international development bank The declaration endorses both the establishment of a de veloping world. and debt moratorium at the UN. October 24, 2014 EIR The LaRouche Record 31 Wills declares that “there can be no first contribution India must make meaningful economic advance in this battle is to lead the develop- with out the implementation of the ing countries, in concert with lead- New International Economic ing Third World nations, in a decla- Order.” ration of moratoria on the payment Wills asserts: of all debt to the bankrupt monetar- “The IMF and the Bretton ist institutions of the IMF-World Woods monetary system must give Bank and their aid consortia. The way to alternative structures like freezing of unpayable debts to the international development monetarists is not only morally im- banks. The crippling problem of perative but is the strategic weapon debt and the servicing of debt has we must wield to open the way to assumed a special urgency. Devel- the establishment of a new mone- oping countries cannot afford to tary system. As the 1975 program- depart from their basic and funda- matic document, ‘The International mental demand made in Colombo Development Bank,’ proposed, the earlier this year calling for mea- central task of a New World Eco- sures of cancellation, reschedul- Indian Prime Minister Indira Gandhi talked nomic Order is to facilitate the ing, and the declaration of morato- with EIR about her plans for development. greatest possible flow of technolo- ria. We cannot afford to mortgage gies and industrial processes from the future of unborn generations to the obligations of the advanced sector into the developing sector.” burdensome capital repayments and crushing debt ser- vicing. The time has come for a debt moratorium.” Indira Gandhi’s Interview to EIR In 1978, the year before her stunning comeback vic- LaRouche: U.S. Must Integrate Itself into the tory as Prime Minister of India, Indira Gandhi gives the IDB first of several interviews to EIR. In the interview, con- As a Presidential candidate for the U.S. Labor Party ducted at her home in New Delhi, Mrs. Gandhi strongly in 1976, LaRouche celebrates the historic decisions defends a return to the non-aligned foreign policy of her made by the Non-Aligned Movement at the Colombo father Jawaharlal Nehru, and insists that only a policy Summit saying: “We have succeeded in mobilizing 85 of aggressive government support for investment in countries and 2 billion people around our program. science and technology can save India from crushing That is what I have worked for all my life. Our small poverty: “Science and technology, this is essential to organization has accomplished what many termed im- fight poverty. It is ridiculous to say that you can solve possible. We must use our victory at Colombo to orga- rural problems without science and without industry; nize the American working class behind our program. you simply can’t. In our scheme of things, there is no They want to do something, but the average person conflict between agriculture and industry; they comple- lacks the sense of how to fight. Colombo changes this ment one another.” prescription. Colombo has shown these forces what can In another interview with EIR following her victory be done on a world scale with a cadre of a handful of in the 1980 elections, Mrs. Gandhi elaborates on her people. The United States will have to integrate itself development policy: “India is a developing country, into the International Development Bank (IDB).” and development has been rather uneven. It is obvious that where there is industry, it is much easier for that LaRouche Situates India’s Role in New area to grow and for people to get more jobs. We have a International Economic Order program for developing backward areas and we have In 1977 EIR Special Report titled “The Struggle for made progress in it.
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