New International Political Economy - Origin

Origin

As an analytical and theoretical perspective in the sociology field, IPE emerged in the 1960s, after Latin American Economists conducted a study on the long term impacts of imperialism on a country. The findings of the study called for a new understandings of how thing work on a global level and how they might be studied. IPE has been significantly shaped by the critical paradigm, which focuses on identifying and focusing on patterns of inequality, and asserts that forms of social inequality are historically created and therefore can be changed. The Pioneer scholars concerned with IPE declared that earlier studies of international relations had placed unwarranted emphasis on law and politics. IPE scholars, as well as Marxists, dismissed the singular state as a unit of analysis, and emphasized one international system.International Political Economy IPE proposed a marriage between international economics and political analysis through sociological and historical lenses. By the 1960s, the shift in balance of economic power among nations was a phenomenon unaccounted for. The rapid recovery of the European and Japanese economies after World War II called for a method of analysis. By the 1970s, IPE became more popular to account for such phenomena as neo-colonialism and the Bretton Woods system.