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International Economic Integration and the Changing Role of National Governments

In: Globalization and National Economic Welfare

Author

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  • M. Panić

    (University of Cambridge)

Abstract

Arguments concerning the role of government in economic change have been at the centre of economic debate since the eighteenth century. Yet, if anything, they are probably even further from producing a consensus now than they were more than two hundred years ago when two eminent Scots championed the familiar, diametrically opposed views: Sir James Steuart ([1767] 1966), that the state had a critical role to play in economic development and Adam Smith ([1776] 1976), that the role would be performed much more effectively by markets guided by the invisible hand of self-interest.

Suggested Citation

  • M. Panić, 2003. "International Economic Integration and the Changing Role of National Governments," Palgrave Macmillan Books, in: Globalization and National Economic Welfare, chapter 3, pages 72-95, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28659-7_3
    DOI: 10.1057/9780230286597_3
    as

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