Abstract:
«The article discusses the changing role of the State in the twentieth century, a century which saw the emergence, consolidation and decline of the belief that the economy could be governed by government planners and policy makers. Main trends in the development of economic policy regimes are discussed. Turning point in the development, like the breakthrough of new macroeconomic thinking in the 1930s and 1940s and the economic liberalization from the late 1970s, are specially emphasized. The article also highlights some issues that have been left more or less in the dark by historical research, like the economic policy of WWI and the immediate aftermath, and relations between the cabinet and State bureaucracy after Labour’s assumption to office in 1935.»
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