Theoretical foundations of the state's economic role

The economic role of the State has been and remains subject to discussion in economic theory and particularly between the heterodox and the orthodox. In our analysis, we were able to identify three points of view on what the place of the State within the economy should be. Liberal thought which supports the unproductivity of the State through the themes of market efficiency, taxes, debt, planning, regulation, class struggle, individual interests and pressure groups, the political cycle and expectations. Then, traditional Keynesians who remain convinced of the necessity of the State as a productive economic agent via the subjects of the debt burden, taxation, default and regulation, planning, employment, the employer of last resort, the functions of the State as well as currency. Finally, the "economists of the synthesis which reconciles these two antagonistic conceptions via various themes such as the production of public goods, deficits and debt, the effectiveness of economic policies according to the exchange rate regime, endogenous growth, etc.