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[...] That year, the Iranian parlia­ment, the Majlis, nationalized the country' s oil industry (owned by the Anglo-Iranian Oil Company, where "Anglo" represented the English interests and "Iranian" simply referred to the place from which they drew the oil). [...]

[...] Within the United Nations there was often talk of land reform, and there was some discussion of the distorted or even corrupt use of the surplus, but hardly any concern given to it or the conflict among the dif­ferent classes for use of the surplus (and for the surplus value drawn from the wo…

The First World took umbrage at the creation of the UNCTAD.

[...] the basis of trade had to be altered . It could not be premised on the idea that some states are naturally good at being harvesters of low-value raw materials and others are naturally proficient at being producers of high-value-added finished products. The theory of comparative advantage, Pre…

This did not mean that every region should produce everything for itself and therefore live in a state of pure autarky. On the contrary, trade is crucial because some regions have smaller markets than others, and raw materials and agricultural lands are not evenly distributed along national lines.