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Palan, Ronen 2000, Global Political Economy, Routledge 11 New Fetter Lane, London EC4P 4EE,London and New York
The field of International Political Economy is not only reaching a certain level of maturity - generating its own debates, concerns, schools of thought and gaining increasing recognition - it is also very much in flux. This 'state of flux' is in part a reflection of attempts by IPE scholars to capture the rapidly changing environment of the Global Political Economy. These changes are more profound than — and go beyond — the often signalled transformations in production, finance, labour markets and the state. As observers like Castells, Giddens, and Harvey are arguing, the fundaments of modernity itself are eroding. Within the rapidly expanding field of IPE, changes in the Global Political Economy have resulted in the emergence of a critical, heterodox IPE, which has been labelled New Political Economy (NPE) by Craig Murphy and Roger Tooze. New Political Economy is being characterised by combining various critical strands of thought which challenge statist as well as actor-oriented approaches associated with neorealism and rational actor models. Moreover, a growing group of scholars working within the NPE tradition are focusing on the re-articulation of identities and the growing prominence of culture in the context of the Global Political Economy.
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