State and the Economic Process - C. W.M. Naastepad;Servaas Storm

In The State and the Economic Process, a distinguished group of economists provides - through a comparison of postwar economic performance and policies - sound analytical support and historical evidence in favour of vigorous market guiding policies. These include targeting strategic industries, carefully managing both market collusion and competition, promoting environmentally sound technical change, and managing foreign trade and investment.

The papers featured in this volume address such issues as widespread unemployment in the OECD, the deep and protracted contraction in the transitional economies, and the large variety in growth performance in developing countries. The authors go beyond the usual advocacy of the market as the solution to most economic problems, while avoiding the stale controversy over 'market failure' versus 'government failure'.