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Milton Friedman hung up the phone in disgruntlement. The most influential economist of the postwar era had just called three different banks, one in Chicago and then two in New York, in order to initiate a financial transaction. He wanted to sell short $300,000 in pound sterling. Short selling is a technique for speculating on falling prices. Initially, speculators can only speculate on rising prices: they buy something and hope that it gains value, so that they can sell it at a profit. If the price for this asset goes down instead, the speculator incurs a loss when he resells it. So in order to profit from falling prices, speculators need to sell first and buy later – which is indeed possible if what is sold now is in fact only to be delivered a few weeks later. If the speculator is right and prices fall in the interim, he can buy cheap just before delivery is due and thus profit from having already sold what, at the time, he had not yet owned.
My main argument here is that the story seen from the perspective of the influential year of 1962 reveals a very different historical context, with a different set of actors and a different trajectory and causalities regarding the human rights breakthrough, from those stories focusing on Western agency in the 1940s and the 1970s. It repositions the history of human rights in significant ways and makes apartheid and racial discrimination more crucial to the human rights story than has hitherto been acknowledged. It is also important to emphasize that the positions and arguments presented by countries from the Global South in these UN debates were richly nuanced. These nuances are important if we are to fully appreciate the dynamics during these years. Tanzania differed significantly from, for instance, Senegal in the way it envisaged the scope and applicability of international human rights law and investigatory measures. Tanzania wanted a sole focus on Southern Africa and not beyond; Senegal had a wider perspective. This should remind us that when we are imagining Africa as a historical-political space, we need to allow for diversity, individual histories and agency, aspects that cannot be adequately captured by labels such as ›The Third World‹, ›Global South‹ or indeed even ›Africa‹.