In 1976, Robert Gilpin distinguished three contrasting political economy perspectives: liberalism, Marxism, and mercantilism. Gilpin introduced these International Relations-derived categories as theories and ideologies of political economy, sometimes conceived either as explanatory models or future scenarios. He recognises that the three ideologies ‘define the conflicting perspectives’ that actors have, but he does not go as far as to theorise how the perspectives may be part of the dynamics of the world economy and generative of its history and future. Gilpin’s models, scenarios, and theories are thus mainly cognitive attempts to understand reality from the outside. Since Gilpin’s main works, a large number of critical and constructivist International Political Economy (IPE) and Global Political Economy (GPE) approaches have arisen, stressing the constitutive role of ideas and performativity of theories. Many of these studies, however, tend to focus on aspects of contemporary matters or specific issues and fall short of analysing broad historical developments and, most markedly, causation. In a recent book that is coming out as a paperback in May, I develop the idea that the conflicting political economy perspectives are fields that generate the dynamics of the world system.
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