The Institute of World Affairs records document the operations of the Institute and its administrators and researchers. Mostly originating from its 1942 founding to its redesignation as the Research Division of the New School for Social Research in 1953, the files include administrative records such as minutes, correspondence, proposals, contracts, and budgets; manuscripts, notes, and published research material; and research project records.

The bulk of the material consists of project files, particularly the records from the Leisure-time project (1947-1953), as well as of projects and studies by researchers and administrators associated with the Institute, including Hans Staudinger, Phyllis Poses, Adolph Lowe, Elizabeth Tood, Lewis Lorwin, Henry G. Aubrey, and Alexander Ringer.

Robert Heilbroner (1919-2005) was first associated with The New School as a research fellow in the 1950s and received his PhD in economics from the New School for Social Research in 1963, during which time he studied under Adolph Lowe. Heilbroner was named Norman Thomas Professor of Economics in 1971. The papers contain correspondence between Heilbroner and Lowe, along with material documenting tributes, and samples of Heilbroner's writings.