Abstract

The commentary reflects on the trajectory of the debate on state intervention in the economy from the end of the Second World War to the era of globalisation. The commentary then moves on to examine the alleged return of the state in managing the economy, as attested by the debate on industrial policy and the policies need to govern the green transition. In doing so, the commentary raises two questions: What are the «relevant» state interventions? Can these interventions steer markets in the direction that states want and that benefits society as a whole?