Estabrek Bechiri

Legal regime applicable to oil investments in Algeria Estabrek Bechiri

The debate on the nature of the status of the state in the economy has long been the most controversial between proponents of statism and supporters of liberalism. Whether this role evokes for the former the spectre of an invasive and demagogic state, and for the latter an insufficient effort to ensure social justice, its problematic is strongly marked either by a fetishization of the state or by a fetishization of the market. However, the arguments developed do not hide ideological presuppositions well. In this context, the rhetoric of globalization presents the market as the main and best regulator. In reality, however, the interdependence between the market and the state is historically and practically verified. The market, therefore, can only function if it is supported and supervised by the State, so an adequate institutional framework is necessary.