The volume examines the changing relationship between policies of the state and corporate structures in the context of steady withdrawal of the state in the development context ad emergence of the market as the major driving force in the economy. It probes the imperious control of big business. It explains the contradictions between the State and the market as dealt with in liberal theory, discussing corporate feudalism where corporations replace or co-opt the ruling State. The essays by economists from India and abroad throw light on colonial trade patterns and employment and structural changes relating to India and other developing countries during the recent years. They discuss issues that have been vehemently debated in recent times such as aspects of mobile capital, volatility of markets and financial exclusion in de-regulated capital markets. Labour market flexibility in India and in developing countries is viewed especially in the context of globalisation.