Abstract

In the life span of one generation-the working life of one man-there has arisen and grown rapidly in strength and influence a new form of economic and political organization-the international institution. It is here to stay, for it fills an essential role in the confused international affairs of today-and tomorrow. On this type of co-operative organization the West pins its hope of winning the cold war and holding back the flood of Communism. This new entity takes many shapes and forms. To the lay observer the very catalog of so many alphabetical combinations is confusing. The rules and techniques of their operation are different from anything known before. They are a major challenge to students of business and political management. As an approach to the study of this phenomenon, it may be illuminating to describe and analyze one of these institutions which operates in the economic field: the Organization for European Economic Cooperation (the OEEC) and its successor, the Organization for Economic Cooperation and Development(theOECD).