The Indian Political Economy Association is a Society registered under the Societies Registration Act.  A number of social scientists from many Universities, Research Institutes and Colleges, Journalists and Public-men, after a long process of deliberations, decided to set up this Association. The Association came into formal existence in October 1989.

            It was felt that there is a need for an organization which brings together people who are trying to understand the social processes in their organic unity without excessive influence of the individual discipline they are formally trained in. This is because in real life the issues and problems respect no such artificial boundaries as have come up partly for pedagogic reasons and partly under the impact of the forces governing non-material production.  Especially in a country like India which is facing such immense challenges, the social scientists can hope to respond to the challenges only through a comprehensive understanding of social processes and collective efforts.

            We are aware that there are a number of academic associations which are doing very useful work in their respective areas.  However, it was felt that it is essential to rise above the narrow boundaries and attempt to evolve an integrated understanding in a historical context.  It was also felt that unfortunately there have emerged certain hierarchical practices leading to some kind of polarization and uncalled for stratification among the members of many of these Associations.  In our view, a fully democratic, participative and non-hierarchical academic culture is a basic pre-requisite for development of meaningful social science committed to the processes of social transformation.  The Indian Political Economy Association seeks to work in these directions and with an approach which is in keeping with the perspective outlined above.
           
Its Memorandum of Association spells out the following to be its objectives:
            “(1) The objective of the society is to provide a forum of mutual interaction and support to those engaged in theoretical and empirical studies with a view to evolve scientific and socially-responsive political economy with reference to both India and the world.  The society will in particular endeavor to encourage inter-disciplinary studies and will not restrict itself to the conventional boundaries of individual disciplines.  (2) It is also an objective of the society to popularize a scientific understanding of social problems among the people and to contribute to the process of social transformation”.