A New Decision Calculus: Race in International Political Economy Studies

On September 30, 2020, several of us dialed in to attend a webinar panel discussion on “Race, Identity and Culture in the (Post-)Globalization Era.” The participants shared their thoughts on how and why race factors into international political and economic processes. In the spirit of addressing the topic from a political economy perspective, it seems worthwhile to outline the decision calculus that determines why considering race in international political economy (IPE) research is a good idea. If the benefit b of accounting for race times the probability p of success outweighs the costs c weighted by the probability (1 - p) of failure, race should be a key component of IPE research moving forward.