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Synopsis The Market Economy and the State is an edited volume of selected papers contributed to the technical session "The State and the Market" of the Indian Economic Conference. This is part of the IEA scheme of publishing such volumes from papers contributed for IEA Annual Conference during 1994-2000. The present volume consists altogether 24 articles authored respectively by Asok Basu, Ratan Lal Basu, Chitra Ghose, K.T. Geetha, Biswajit Chatterjee, Santanu Ghosh, Bibekananda Das, S.C. Sharma, S.S. Singh Chauhan and V.K. Agarwal, Rajendra Kumar, S. Sabhanayakam, M. Girija and L. Sasikala, M.P. Goswami and A.K. Chaudhury, Y.L. Inamdar and S.G. Purohit, Bhaskar Mazumdar, K. Krishnaiah and A. Ranga Reddy, G. Karunakaran Pillai, M.P. Bezbarua, Mira Banerjee and A. Banerjee, Suman Jain, Bipul Malakar and Tapa Roy, Neelkanth G. Pendse, L.M.S. Baghal and S.K. Choubey, B.S. Sreekantaradhya, Prabhat K. Pankaj and Nand Kishore Vyas. It also contains an editorial Introduction by Prof. R.K. Sinha, Preface by Prof. Raj Kumar Sen, Managing editor for the series and secretary and Treasurer of the IEA, and a foreword by Prof. G.S. Bhalla, President, IEA. This volume makes an analytical study to the continuing debate on the appropriate role of the state and the market in a dynamic world. The articles also, in a number of cases are based on Indian experiences and have drawn conclusion on the basis of emerging lessons. This book is a very useful addition to the study on these important issues not only for the researchers and the policy-makers but also for the general readers with interest on this very important and interesting subject.