The role of the state continues to be a key debate in economics and development studies. Dr ha-Joon Chang has been one of the leading voices questioning the axiomatic wisdom of what is called the Washington Consensus "free market" view that the role of the state should be minimized. In this collection of essays, he reviews theories and practices of state intervention as they have developed over two centuries of modern capitalism. He develops an institutionalist approach to the role of the state in economic change; and examines the issues involved in particular settings including industrial policy, trade policy, intellectual property rights, regulation and strategies towards transnational corporations. He mounts a theoretical and historical case for the essential role of the state in economic development.