Dicuss 'when and to what extent should the state intervene in the economy?'

The world has changed so much rapidly as economic activities have become not just increasingly internationalized but also increasingly globalized since the end of the Second World War. Between nation-states and countries the clear trend of the integration has extended all the key areas of modern life: the economic, political, legal, cultural, military and the ecological activities. But over time globalisation has been organized and institutionized in quite different ways, from the global empires of the nineteenth century to the present when world empires have given way to the ‘freedoms’ of the global market, laissez-faire economies, and multinational capital.
For market approach economists who are widely labelled neo-classicalists, contemporary globalization proves a new epoch in human history in which market capitalism, following the collapse of state socialism in Eastern Europe and the Soviet Union has formed the only viable development path. This concept of globalisation r...