Chapter 1:
Diversity of International Political Economy
(IPE)
International Political Economy, 2024
Q607
Dr. Daniel Lin
Diversity of International Political Economy
(IPE)
– Covers global production, trade, finance, and
sustainability, reflecting its multidisciplinary
nature.
– Engages with both historical and contemporary
economic discourses.
– Examines the impact of industrial and scientific
revolutions on global economies.
– Reflects a broad range of scholarly and practical
interests, from international institutions to non-
state actors.
Role of Analytical Languages and Dialects
– Essential for framing and discussing complex
global economic issues.
– Different dialects provide nuanced insights within
the broader IPE framework.
– Analytical frameworks shape the interpretation of
IPE theories.
– Influence how scholars and practitioners
understand global economic phenomena.
Modernist/Rationalist Assumptions
– Underpin mainstream IPE, guiding theories and
policies.
– Often marginalize groups considered less rational.
– Influence how objectivity and rationality are
valued in global economics.
– Prioritize certain viewpoints, shaping the
discourse.
Marginalization in IPE
– Women, environmentalists, and the poor are
often sidelined in mainstream IPE.
– These groups highlight their importance and
advocate for inclusivity.
– Marginalization mirrors broader social
inequalities.
– Exclusion limits the scope of IPE analysis.
Economic Nationalism
– Focuses on maximizing state autonomy through
protectionist policies.
– Historically shaped early capitalist systems.
– Reflects in contemporary responses to
globalization and crises.
– Often contrasted with economic liberalism in
policy debates.
Economic Liberalism
– Advocates for open markets and minimal
government intervention.
– Emphasizes individual freedom and market
efficiency.
– Promotes trade based on comparative advantage.
– Criticized for not addressing inequalities and
market failures.
Human Nature in IPE
– Theories vary in viewing humans as selfish,
rational, or cooperative.
– These assumptions shape global economic policies
and models.
– Impact approaches to global governance and
economic interaction.
– Key for analyzing strengths and limitations of IPE
theories.
Strategic Dimensions of World Affairs
– Focuses on state interactions, security, and
diplomacy.
– Realist perspectives emphasize competition and
self-help behaviors.
– Optimistic views highlight cooperation and global
governance.
– Strategic interests drive international economic
policies.
Socialist Perspectives
– Highlight potential for more equitable resource
distribution.
– Emphasize state roles in ensuring welfare and
social justice.
– Critique capitalism for perpetuating inequality and
exploitation.
– Debate between reformist and revolutionary
approaches.
Critiques and Auto-Critiques of Modernism
– Challenge the prioritization of reason and
objectivity.
– Postmodern views argue for pluralistic approaches
to knowledge.
– Reflect broader intellectual challenges to
established norms.
– Foster inclusion of marginalized voices in IPE.
Global Market Affairs
– Encompass global production, finance, and trade.
– Policies shaped by nationalism, liberalism, and
socialism.
– Globalization's impact raises questions about
benefit distribution.
– Ongoing debates focus on balancing national
policies with global market forces.
Sustainability and Environmental Concerns
– Increasingly central to global economic
discussions.
– Challenges traditional models by prioritizing long-
term ecological health.
– Environmental issues are deeply connected to
economic policies.
– Debates focus on IPE's role in addressing global
environmental crises.
Comprehension Focus
• How do the various analytical languages and
dialects used in IPE shape our understanding
of global economic interactions?
• In what ways do modernist and rationalist
assumptions in IPE contribute to the
marginalization of certain groups, and how
can this impact the development of global
economic policies?
