Balancing state intervention

Despite the high degree of convergence and integration between Europe and the United States in the past, the threats created by recent pressures and circumstances require a reexamination of the relations between state and market in those nations. The evolution of the international system; the gradual erosion of state control over industrial change, public action, and political authority; and changes in American and European economic, political, technological, social, and demographic conditions have created a wide array of problems that render the current environment quite unrecognizable from…