The role of the state in the economy has always been a controversial issue in public debate. In recent times this has become more so with the rise of neoliberal thinking that preaches the virtues of unregulated markets and recommends de-regulation, opening-up and privatisation. This push for a minimal, pro-business state, especially in developing countries, has been further intensified with both the rise of globalisation and the many radical neoliberal “reforms” implemented, often under pressure from multilateral agencies such as the IMF, the World Bank and the WTO. In this book, the author highlights the failure of neoliberalism especially in developing countries. He refers to it as the ‘intellectual bankruptcy of neoliberalism’, which he believes ‘stems ultimately from its failure to base its discourse on a balanced and sophisticated theory of the inter-relationship between the market, the state, and other institutions.’ The author hopes that the book will help those who are trying to construct, either at the theoretical level or at the practical level, some credible alternatives to neo liberalism, even if their alternatives are significantly different from his.