The failure, from 1974 to 1977, of the North-South negotiations on commodity agreements is explained here in terms that put a good deal of blame on both sides. The episode is seen in the larger setting of "a failed incremental system" that is no longer able to respond adequately to demands for change. Without too much optimism the author suggests major measures of reform of more than just UNCTAD and, more hopefully, some rules to make things work better in the existing framework. An intelligent, interesting book based on close contemporary observation.