State and Business Interaction: Survey of Economics and Policy Through Time

The lecture deals with Keynesian views on interaction between government and business — first, during the Great Depression, and then in the postwar period of economic recovery, when the role of the State in the Tandem increased, the State intensified its involvement in the business. The role of public investment into infrastructure as a cornerstone of future economic growth is characterized. Keynesian idea of the importance for economic development of investment in human capital is obtained. The features of neo-developmentalism (neo-structuralism) that have proliferated in the XXI century are analysed.