The author provides an overview about the field of international political economy (IPE) along metatheoretical lines. The IPE communities in the United States and Western Europe exhibit more differences than commonalities in their ontological, epistemological and methodological assumptions. While the U.S. perspective is solidly based on a materialist ontology, methodological individualism, and neopositivism as its epistemological foundation, the European IPE community is considerably more heterogeneous in its theoretical, epistemological and methodological approaches. The article ends with a view towards the future introducing three possible scenarios for the IPE sub-discipline.