Abstract and Keywords
This article has a comparative perspectives on the role of the state in the economy. It first describes the challenges that are posed to the thesis that state actors possess the instrumental capacity to engage in macroeconomic demand management. It also discusses the literature analyzing the capacity of state actors to effectively intervene on the supply side of the economy to create the conditions for growth, stability, and expansion. The article also presents an outline of how these debates eventually lead to important questions about the relative explanatory power of arguments.
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